New Jersey has a total of 510.5 million square feet of retail space as of early March, the total having inched up just 0.3% over the past year. That lack of new supply has contributed to the Garden State’s low retail availability rate of just 5.1%, leaving tenants looking to expand or relocate to scramble to find quality space.
Limited New Supply Keeps Retail Space Availability Low in New Jersey’s Urban Areas
Strong Demand for Store Space in Bergen and Essex Counties Drives Occupancy Gains
By Mateusz Wnek
CoStar Analytics
March 11, 2024 | 9:27 P.M.
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