M id A tlantic Real Estate Journal — New Jersey — July 2026 — 29
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N ew J ersey NAI James E. Hanson Industrial Report Northern NJ Industrial Market remains resilient as large users drive class A demand
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$8.00 psf premium over the broader market. Exit 10/12 vacancy declined to 6.4% year-over-year, led by the quarter’s largest lease, an 800,000 s/f deal signed by GoFo, Inc. at 1160 State Street in Perth Amboy. The Meadowlands remained stable at 6.0% vacancy, with average asking rents rebound- ing to $16.24 psf, among the highest in the region. Exit 8A posted a substantial increase in leasing activity, including a 600,000 s/f lease signed by DSV at 201 Middlesex Center Boulevard in Monroe,
pushing average asking rents to $15.68 psf even as vacancy rose to 7.5%. The 46/23/3 Corridor stayed consistent at 5.4% vacancy, supported by a limited con- struction pipeline that has kept the rate below 6.0% for three consecutive years. Exit 7A saw a localized spike in vacancy to 12.3% af- ter roughly 850,000 s/f came to market at a Hamilton Township property, though leasing activity in the sub- market continued, highlight- ed by SunRun’s 231,850 s/f lease at 13 Applegate Drive
in Mercer County. Investment sales activity remained active during the first half of the year, led by Goodman North America Man - agement, LLC’s $360 million acquisition of a 1.7 million s/f property at 200 Route 1 in Newark from Anheuser-Busch. About NAI James E. Hanson Since 1955, NAI James E. Hanson has been a leading independent full-service com- mercial real estate brokerage and property management firm. Serving a diverse client list, the company offers stra- tegic solutions in office, indus -
trial, and retail brokerage, investment sales, land sales, management, government ser- vices, and financing expertise. As one of the original mem- bers of NAI Global, an interna - tional commercial real estate network with over 325 offices worldwide, NAI James E. Han - son continues to build on its legacy of excellence. In 2025, the firm expanded its capabilities with the acqui- sition of The Garibaldi Group and NAI Summit, creating one of the region’s most expe - rienced commercial real estate services platforms. MAREJ
ETERBORO, NJ — NAI James E. Han- son , the largest New
Jersey-based full-service independent commercial real estate firm, re- leased its 2Q 2026 Indus- trial Report, showing con-
James Delmonte
tinued demand for high-quality industrial space even as overall vacancy edged higher to 7.1%, a rate that remains well below the national average. Large-scale users and third- party logistics (3PL) firms continued to drive activity in the market, prioritizing well- located class A product with high ceilings. Through June, the market recorded 12 trans- actions over 300,000 s/f bring- ing year-to-date leasing vol- ume to 14 million s/f. Average asking rents, while still el- evated by historical standards, have begun to level off after recent spikes, with class A space averaging $16.25 psf and the overall market averaging $13.87 psf. New construction deliveries continued to slow, with 3.9 million square feet delivered during the first six months of the year, compared to 4.6 mil- lion s/f over the same period in 2025. As of mid-year, 7.6 million square feet remained under construction, with de- livery expected by year’s end. “Even with vacancy ticking up in pockets of the market, the underlying fundamen- tals in Northern New Jersey remain strong,” said James Delmonte , vice president and director of Research at NAI James E. Hanson. “Large users continue to compete for well-lo- cated, high-quality space, and with new construction slowing, that demand should keep the market well-positioned even as it continues to normalize from the historic lows we saw during the pandemic.” Submarket performance reflected that same demand- driven pattern, with the tight- est markets continuing to see the strongest activity: The Ports submarket held steady at 6.6% vacancy, with a limited construction pipe- line of 632,218 s/f positioning the submarket to tighten further over the next year. class A rents in the submar- ket commanded a nearly
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