Northern New Jersey's industrial property sector posted net absorption of negative 1.9 million square feet in the first quarter of 2024, a major sea change in the metric from the 1.4 million square feet of positive absorption recorded for the same period just one year ago.
Slumping New Jersey Industrial Demand Limps Into May
First Quarter Saw Weakest Three-Month Tally Since Depths of Global Financial Crisis
By Mateusz Wnek
CoStar Analytics
May 9, 2024 | 9:48 P.M.
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