Warehouse Vacancies Rise, Fueling Claims of an Overbuilt Market

njspotlightnews.org

Warehouse vacancies in New Jersey are on the rise, as supply outpaces demand and community groups continue to fight the explosive growth in new construction.

The vacancy rate for warehouses and other kinds of industrial real estate in northern and central New Jersey rose to 5.3% in the second quarter of 2024 from 4.8% in the first quarter and 2.5% in the second quarter of 2022, according to data from Newmark, a real estate company that monitors the market.