New Jersey Industrial Sales Totaled $149M, Second in the Nation
The sales volume for industrial real estate in New Jersey totaled $149 million in January, the second highest figure in the nation to the San Francisco Bay Area.
The data from property management software Yardi shows the Bay Area, New Jersey and Indianapolis had the highest volume of industrial real estate change hands by a wide margin. Transactions in the Bay Area totaled $169 million and in Indianapolis that number was $112 million. The three next largest sales totals in Columbus, Ohio ($50 million); Seattle ($48 million) and Charlotte, North Carolina, ($47 million) combined are still less than New Jersey’s total. Philadelphia had $4 million worth of industrial real estate sales, topping Northeast counterpart Boston at $3 million.
The average sales price per square foot was $149 in Philadelphia and $202 in New Jersey. Average rents per square foot in Philadelphia and New Jersey were $6.98 and $9.21, respectively, in January.
*Article courtesy of Philadelphia Business Journal
Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers. Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.