A growing mismatch in New Jersey’s industrial sector between occupiers’ needs and the surge of oversized new projects is driving a split in available industrial space. Small bay properties under 50,000 square feet have a low availability rate of just 3.9% as of early August, while buildings between 50,000 and 100,000 square feet show a higher rate of 6.5%. In Northern New Jersey, where construction contractors and distributors are more concentrated, the availability of small bay space is especially tight. Areas like Kenilworth and Cranford in Union County, and Fairfield in Essex County, have no available small bay properties due to nearly a decade without new supply.
For more information about South Jersey industrial space for sale or lease, please contact WCRE at 856-857-6300.
Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.
Please visit our websites for a full listing of commercial properties for lease or sale through our commercial real estate brokerage firm.
