New Jersey Industrial Sales Totaled $149M, Second in the Nation

NJ Ranked #2 in Nation for Industrial Sales

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

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