{"id":1004756751,"date":"2025-05-28T03:39:03","date_gmt":"2025-05-28T11:39:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004756751"},"modified":"2025-11-18T03:28:49","modified_gmt":"2025-11-18T11:28:49","slug":"new-jerseys-industrial-sales-lead-nation","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/new-jerseys-industrial-sales-lead-nation\/","title":{"rendered":"New Jersey Industrial Sales Lead Nation"},"content":{"rendered":"\n<p>New Jersey\u2019s industrial sector continued to experience robust demand in the first quarter of this year, driven by the strong demographics of the surrounding area and bustling activity at nearby ports.<\/p>\n\n\n\n<p>The metro\u2019s investment volume led the country, with $832 million in assets changing hands, according to CommercialEdge data. The market\u2019s average price per square foot during the same period ranked third nationally, clocking in at $255.6.<\/p>\n\n\n\n<p>Additionally, New Jersey had the most significant year-over-year rent growth in the U.S., at 11.3 percent. In terms of construction activity, eight projects totaling roughly 1.3 million square feet broke ground year-to-date through March.<\/p>\n\n\n\n<iframe title=\"Top 10 Markets for Industrial Sales \" aria-label=\"Table\" id=\"datawrapper-chart-3tP10\" src=\"https:\/\/datawrapper.dwcdn.net\/3tP10\/1\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"542\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}}))}();\n<\/script>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-new-jersey-s-sales-activity-ranks-first\">New Jersey\u2019s sales activity ranks first<\/h2>\n\n\n\n<p>New Jersey\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-industrial-transactions\/\">industrial transaction volume<\/a> took the lead nationally in the first quarter of the year, clocking in at $832 million\u2014a sharp increase from the $250 million registered last year during the same period. Other peer markets with strong sales activity during the same period were Dallas ($711 million) and Chicago ($616 million), while Indianapolis ($111 million) was at the other end of the spectrum.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a0b3bc9ce224&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"600\" data-attachment-id=\"1004752373\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/taconic-partners-buys-new-jersey-facility-for-74m\/1735-jersey-ave-in-north-brunswick-n-j\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/1735-Jersey-Ave.-in-North-Brunswick-N.J.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1735 Jersey Ave. in North Brunswick, N.J.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1735 Jersey Ave. in North Brunswick, N.J., is Taconic Partners\u2019 second acquisition in the New Jersey industrial market. Image courtesy of Taconic Partners&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/1735-Jersey-Ave.-in-North-Brunswick-N.J.jpg?w=800\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/1735-Jersey-Ave.-in-North-Brunswick-N.J.jpg\" alt=\"1735 Jersey Ave. industrial building in North Brunswick, N.J.\" class=\"wp-image-1004752373\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/1735-Jersey-Ave.-in-North-Brunswick-N.J.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/1735-Jersey-Ave.-in-North-Brunswick-N.J.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/1735-Jersey-Ave.-in-North-Brunswick-N.J.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">1735 Jersey Ave. in North Brunswick, N.J., is Taconic Partners\u2019 second acquisition in the New Jersey industrial market. <em>Image courtesy of Taconic Partners<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Assets in the metro traded for $255.6 per square foot, more than double the $126 national average and well above markets like Phoenix ($176.9 per square foot) and Indianapolis ($110.9 per square foot). Chicago ($95.4) posted one of the lowest average sale prices in the country.<\/p>\n\n\n\n<p>In the biggest sale of the year in the market so far, <a href=\"https:\/\/www.commercialsearch.com\/news\/prologis-closes-2-deals-worth-230m\/\">Prologis purchased<\/a> a 600,000-square-foot industrial asset in South Brunswick, N.J., for $166.8 million. ARC Realty sold the 2008-completed warehouse.<\/p>\n\n\n\n<p>During the same month, <a href=\"https:\/\/www.commercialsearch.com\/news\/taconic-partners-buys-new-jersey-facility-for-74m\/\">Taconic Partners acquired<\/a> a 360,000-square-foot facility for $74.3 million. The North Brunswick, N.J., asset is the developer\u2019s second industrial acquisition in the market.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-construction-activity-remains-steady-still-behind-peers\">Construction activity remains steady, still behind peers<\/h2>\n\n\n\n<p>New Jersey\u2019s industrial development pipeline at the end of the first quarter clocked in at 6.3 million square feet, according to CommercialEdge. Dallas-Fort Worth continued to lead the nation with 24.8 million square feet underway, followed by Phoenix (15.1 million square feet) and Houston (14.7 million square feet).<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a0b3bc9cec77&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignleft size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004756755\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/new-jerseys-industrial-sales-lead-nation\/201-middlesex-center-blvd\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/201-Middlesex-Center-Blvd-e1746455552592.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"201 Middlesex Center Blvd.\" data-image-description=\"&lt;p&gt;An industrial facility at 201 Middlesex Center Blvd. in South Brunswick, NJ.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Prologis recently acquired 201 Middlesex Center Blvd. in the largest deal in the market so far this year. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/201-Middlesex-Center-Blvd-e1746455552592.jpg?w=1000\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/201-Middlesex-Center-Blvd-e1746455552592.jpg\" alt=\"An industrial facility at 201 Middlesex Center Blvd. in South Brunswick, NJ.\" class=\"wp-image-1004756755\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/201-Middlesex-Center-Blvd-e1746455552592.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/201-Middlesex-Center-Blvd-e1746455552592.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/201-Middlesex-Center-Blvd-e1746455552592.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Prologis recently acquired 201 Middlesex Center Blvd. in the largest deal in the market so far this year. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The New Jersey under-construction projects accounted for 1 percent of the metro\u2019s total inventory, slightly below the 1.7 percent U.S. index. When factoring in projects in the planning stages, the market\u2019s share reaches 2.4 percent, still below the 3.7 percent national rate, but above peer markets such as Chicago (1.7 percent) and Orange County (1 percent).<\/p>\n\n\n\n<p>Russo Development is currently working on the first phase of Kingsland Meadowlands, a 932,763-square-foot industrial facility in Lyndhurst, N.J. The development is expected to come online this year. Upon full build-out, the campus is set to feature seven buildings totaling about 3.4 million square feet.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-industrial-completions-decrease-year-over-year\">Industrial completions decrease year-over-year<\/h2>\n\n\n\n<p>New Jersey\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-industrial-deliveries\/\">industrial completions<\/a> in the first quarter amounted to roughly 2.1 million square feet, down almost 1 million square feet year-over-year. The six properties that came online accounted for 0.6 percent of the metro\u2019s total inventory.<\/p>\n\n\n\n<p>Among peer markets, Phoenix (8.6 million square feet) and Chicago (2.3 million square feet) fared better, while Indianapolis (752,500 square feet) and Kansas City (1.7 million square feet) were at the opposite end of the spectrum. This year, 2020 Acquisitions completed three buildings within the Central 9 Logistics Park in Old Bridge, N.J. The facilities total almost 1.6 million square feet and are part of a three-phase development.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-new-jersey-s-industrial-rent-growth-is-highest-in-the-u-s\">New Jersey\u2019s industrial rent growth is highest in the U.S.<\/h2>\n\n\n\n<p>New Jersey\u2019s industrial vacancy rate at the end of the first quarter clocked in at 9.6 percent, 110 basis points above the national average, but below Dallas (10 percent) and Chicago (10.6 percent). From 2022 to 2024, the market saw more than 36 million square feet of come online, resulting in increased available space. As development slows and demand remains strong, vacancies are expected to decrease once leasing activity accelerates.<\/p>\n\n\n\n<p>The market\u2019s average listing rate in March clocked in at $11.7, more than $3 above the U.S. figure. Additionally, New Jersey posted the higher year-over-year rent growth, an 11.3 percent increase. Orange County ($16.7) was the most expensive market, followed by Los Angeles ($15.2) and the Bay Area ($13.6).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Strong demographics continue to support the market\u2019s demand, according to CommercialEdge.<\/p>\n","protected":false},"author":3355,"featured_media":1004752373,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,22251,21748,21783,52420,10],"tags":[51047,50674],"class_list":["post-1004756751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-in-focus","category-industrial","category-investment","category-market-updates","category-northeast","tag-marketupdate","tag-commercialedge"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New Jersey Industrial Sales Lead Nation - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"New Jersey&#039;s industrial investment volume clocked in at $832 million at the end of the first quarter, according to CommercialEdge.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/new-jerseys-industrial-sales-lead-nation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Jersey Industrial Sales Lead Nation\" \/>\n<meta property=\"og:description\" content=\"New Jersey&#039;s industrial investment volume clocked in at $832 million at the end of the first quarter, according to CommercialEdge.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/new-jerseys-industrial-sales-lead-nation\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-28T11:39:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-18T11:28:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/1735-Jersey-Ave.-in-North-Brunswick-N.J.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/new-jerseys-industrial-sales-lead-nation\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/new-jerseys-industrial-sales-lead-nation\/\",\"name\":\"New Jersey Industrial Sales Lead Nation - 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