NJ industrial leasing demand outpaces supply in Q2 2018; Office activity jumps
PARSIPPANY, NJ — New Jersey registered 8.6 million s/f of industrial leasing activity during the second quarter of 2018 – down from 10.6 million in the previous period as a lack of available space slowed leasing activity, according to Colliers International NJ LLC. The global commercial real estate services firm today released its second-quarter 2018 Market Snapshots, which reports that office leasing during the past three months rose by 31% equating to 2.9 million s/f. Strategic Distribution Facilities Drive Industrial A 449,880 s/f lease by Clutter, at 1065 Cranbury South River Rd. in South Brunswick led the second-quarter activity, followed by a renewal for 371,995 s/f by LA Enterprises at 1 Costco Way in Monroe Township and a 318,389 s/f sale-leaseback by Freeze at 473 Ridge Rd. in Monmouth Junction.