Market Intelligence Insights & Information
NAI James E. Hanson provides property statistics, demographic information, economic analysis, and comprehensive market intelligence for the Northern & Central New Jersey real estate markets. The information is gathered by NAI professionals and compiled in our quarterly industrial, office and medical office reports.
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2025 Market Reports
The Northern New Jersey industrial market has entered a period of adjustment with slowly rising vacancy rates, stable asking rents and a decrease in speculative construction deliveries. Demand for high-quality space has been the main driver of activity.
Demand for premium and trophy space, driven by a continued flight to quality, has been the main catalyst for leasing activity. Older buildings continue to face challenges as tenants seek high-quality and amenity rich properties.
The increasing availability and sophistication of digital health platforms will empower people to take a more active and informed role in managing their care. This shift will likely lead to greater demand for personalized health solutions, convenient access to services, and transparent information about costs and quality.
After reaching a historical high of 6.7% a year ago, the vacancy rate in the Meadowlands stabilized over the last few months, closing the third quarter at 6.0%. The decline in the vacancy rate is partially attributable to a slowdown in the amount of new construction deliveries and steady leasing activity.
Market Insights
Vice President & Director of Research James Delmonte
James Delmonte kicks off this quarter’s video series with a breakdown of the key takeaways from our newly released 2Q 2025 Industrial Report.
SVP, Global Supply Chain, Ports & Rail Logistics Practice Steve Pastor
Steve Pastor talks tariffs and their implications for the commercial real estate industry.
Vice President Brian Cass
Brian Cass breaks down the growing divide between office property types.
Vice President Patrick Lennon
Patrick Lennon gives an overview of the small bay industrial market and details why it’s become a focus for institutional investors.
Vice President Randy Horning, SIOR, MSRE
Randy Horning explains how continued economic uncertainty is affecting the healthcare real estate market.
Senior Vice President Jeff Garibaldi Sr.
Jeff Garibaldi Sr. discusses the importance of creating an experience at today’s office buildings.
Monthly Economic Indicators
The 10-Year Treasury Yield was down quarter-over-quarter finishing at 4.24%. Comparatively, the rate was 4.20% at the same time last year.
The unemployment rate moved higher during the first three months of the year, up to 4.20%, despite the addition of 228,000 jobs in March.
The annual consumer price index fell to 2.4% in March, down from 2.8% in February.
GDP slowed in the first quarter, down -0.30% amid concern about tariffs and a potential disruption of the U.S. economy.
News & Information
SOLD! Representing the seller, Michael Walters, SIOR and Cameron Silverstein recently negotiated the sale of 5 adjacent lots in Boonton/Parsippany, NJ.
What does the future hold for healthcare real estate? Vice President Randy Horning – CRE Advisor highlights the resilience that can be found among economic challenges.