Newmark announced that the company has arranged 425,000 square feet of industrial leases year-to-date, across Northern and Central New Jersey. Newmark Senior Managing Directors Kyle Eaton and Robert Loderstedt, Managing Director Michael Schipper and Associate Director Haylee McCabe, represented the tenant in each of the lease negotiations.
“This activity speaks to the strength of both the market and our team,” said Eaton. “We continue to see demand from an array of users and our differentiated, partnership-driven approach allows us to deliver tailored solutions across every assignment. With a robust pipeline ahead, we’re optimistic about what the year holds.”
A breakdown of the recent activity, includes GMB North America signing for 154,000 square feet at 1804 River Rd. in Burlington; CEVA taking 150,000 square feet at 40 Enterprise Dr. in Hamilton; Bay Speed signing for 65,817 square feet at 100 Middlesex Ave. in Carteret; Glenmore Plastics taking 35,000 square feet at 115 Newfield Ave. in Edison and Excellent Packaging leasing 22,000 square feet at 480 Main St. in Wallington.
According to Newmark Research, Northern New Jersey closed the fourth quarter of 2024 with over 800,000 square feet of positive net absorption, despite rising vacancy and broader economic headwinds. Leasing volume surged to 8.7 million square feet, led by third-party logistics and retail occupiers. Class A warehouse space accounted for more than half of total activity, reinforcing the flight-to-quality trend that continues to shape the market.
