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E-commerce leads NJ for aggregate leased square footage and average transaction size

•At the end of 2016, E-commerce was responsible for 4.2 million square feet of leasing activity in Northern and Central New Jersey, making it the most active sector within the industrial market. Furthermore, Amazon, Wayfair,and Blue Apron rounded out the Industry’s top three most active companies leasing new space.

•During 2016, E-commerce based retailers matched the market average for number of leases signed per industry, and the supersized footprint of their requirements drove e-retailing to the top spot in Northern and Central New Jersey.

•On average, E-commerce related leases were 4.3 times larger than average lease signed in Northern and Central New Jersey. This surge in big-box leasing is expected to have many implications for the New Jersey industrial market, including shifts in new development, accelerating rental rates, and increases in demand for local labor. 

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