Figures

Q4 2022 New Jersey Industrial Figures

January 18, 2023

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  • The annual leasing total for 2022 reached 19.9 million sq. ft., 23% below the five-year annual average.
  • Total leasing for Q4 was 5.4 million sq. ft., 16% above the previous quarter but 14% lower than the five-year quarterly average.
  • The overall availability rate fell 30 basis points from Q3 landing at 4.1%. 
  • Northern and Central New Jersey’s Class A average industrial asking rent ended the year at $19.02 per sq. ft., up 3.4% from the prior quarter and 8.0% year-over-year.