Cushman & Wakefield Report Strong Industrial Demand and Increase in Office Leasing
Cushman & Wakefield released its third-quarter 2026 market statistics for the New Jersey industrial and office real estate sectors. The latest data highlights continued strength in the warehouse and distribution market, including the strongest quarterly occupancy growth in eight years, alongside increased leasing activity in the office sector.
The New Jersey industrial market continued to demonstrate strong demand during the third quarter, recording 8.1 million square feet (msf) of new leasing activity, bringing year-to-date leasing volume to 24 msf, up 20.2% from the same period last year. Occupancy gains also accelerated, with 5 msf of positive net absorption during the quarter – the market’s strongest quarterly occupancy growth since Q3 2018. As demand remained elevated and sublease availability declined, the warehouse and distribution vacancy rate fell to 8.5%, while the overall net asking rental rate stood at $16.43 per square foot.
“New Jersey’s industrial market continues to benefit from significant occupier demand, with leasing activity running well ahead of last year and occupancy gains reaching their highest quarterly level in eight years,” said Felix Soto, Research Manager at Cushman & Wakefield.