• Outsized demand growth compared to supply deliveries continued to push overall vacancy down throughout the metro area while rents for new leases continued to rise.
  • Traditional demand drivers such as the wholesale, transportation and manufacturing sectors led occupancy growth during 2019. In 2020, however, e-commerce is expected to comprise a significant portion of demand growth.
  • Capital investment volumes remained elevated compared to the 10-year average. New product coming to market, largely pre-leased, assures future supply for investment demand.
  • Southern NJ’s ascendancy as a logistics node was fully realized in 2020 as pricing and demand reached parity with adjacent logistics markets such as the Lehigh Valley.