Tenant demand for industrial space in Northern and Central New Jersey continues to be robust with a vacancy rate of about three percent. By comparison, the office market has an overall vacancy rate of about 25 percent. During the last two years industrial rents have gone up as much as 30 percent, which is unprecedented in my 30 plus years of experience. Over the past two years, we have been advising our industrial clients to do early renewals and plan ahead so they get the best rent, are not held hostage later, or worst case, find that they have to move out. READ MORE