As 2024 industrial leasing data wraps up, New Jersey recorded a 14% year-over-year increase in new commitments, totaling 38.2 million square feet. Deal counts rose 6%, while average lease sizes grew 7% to 31,000 square feet.
Middlesex County led the state with 10.3 million square feet leased, despite a 5% dip from 2023. The county’s 240.6 million square feet of industrial inventory — nearly 25% of the state’s total — benefits from highway access and port proximity, making it a prime logistics hub.
Bergen and Burlington counties saw the fastest growth, each posting gains of over 60%. The largest lease of the yearwas signed in Woodbridge’s Port Reading community, highlighting the region’s ongoing industrial demand.
Wolf Commercial Real Estate (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory, and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about healthcare, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.
WCRE is a full-service CORFAC International brokerage, and advisory firm that provides a full range commercial real estate listings, services and property management services for landlords, owners, investors, tenants and more.
As experts in tri-state region, the WCRE team provides ongoing detailed information about commercial properties to our clients and prospects to help them achieve their commercial real estate goals.
