The State of New Jersey is open for businesses. Home to the USA's eighth-largest economy, the region boasts a low unemployment rate that slightly exceeds 3% and is lower than the national average, has a tight and competitive labor market, and offers a lot of diversity regarding business infrastructure. The commercial real estate stock in NJ can accommodate any type of business, yet, in general, it is primarily occupied by small and medium-sized firms that account for over 99% out of the total amount of the registered companies. In general, the market performs very well, and the particular interest for the commercial space for rent in NJ comes from such industries as ICT, healthcare, biopharmaceutics, logistics, and manufacturing. Taking into consideration the tenants' base, we can state that office, and industrial submarkets are the most robust ones in the state. The occupancy levels in these commercial properties in NJ show no signs of slowing down and will likely continue to rise in the nearest future. Redevelopment and the ever-growing e-commerce trend are the key drivers that shape the commercial real estate stock in NJ. The landlords continue to modernize premises, making them more adjustable to different groups of tenants. Investors push financial capital into aging premises. However, the experts state that the industrial sector will be challenged by the shortage of land for new developments and rising construction costs. Regarding the asking rates, they will likely face a slow, yet steady growth. Nowadays, it is possible to get the required venue out of the commercial real estate listings in NJ for about $1-6 per sq.ft. per month. Offices, and multi-tenant facilities, by the way, are the most expensive options available in the region. View the commercial properties for lease in NJ, established on our website. Choose the location and type of venue that suits you the best and contact the landlord to sign a deal or learn more about it.
