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NAI Hanson: New Jersey industrial vacancy still rising, but could moderate as construction slows in 2025 – Real Estate NJ

Summary by Re-nj.com
By Joshua Burd Industrial vacancy in northern New Jersey rose again in the fourth quarter, as new construction continues to weigh on the market alongside growing sublease space and other factors. A report by NAI James E. Hanson, the real estate services firm, found that overall vacancy grew steadily during 2024 and closed the year at 6 percent. That’s up from 4.7 percent at the end of 2023, as developers in the region completed nearly 12 million…
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