The New Jersey industrial market continues to see an increase in smaller sized leases
- So far in 2024, 93% of industrial leases signed have been for square footage less than 50,000 sf.
- 2022 to 2023 saw a 2% increase in smaller leases, 50,000 sf or less, year-over-year.
- Small to mid-size companies continue to opt for smaller leases in order to mitigate operational expenses.
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