After a challenging 2023 marked by tight monetary policy and slowing rent growth, New Jersey’s commercial property investors are gearing up to increase spending. Last year’s property sales reached just $3.5 billion, the lowest since 2015, but investor interest in 2024 suggests sales could exceed $4 billion.
CoStar’s analysis of commercial property sales over $5 million, excluding portfolio transactions, shows a growing investor focus on industrial and multifamily properties since the pandemic began, while interest in office buildings has waned. Investment in retail properties remains steady compared to pre-pandemic levels.
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