Market Report
Northern New Jersey Retail Market Report
3Q 2026
Several Bullish Indicators Suggest
Fundamentals Will Stay In Positive Territory
Leasing cools as supply constraints intensify. Net absorption accelerated in the second quarter, reaching its highest quarterly total since late 2024. Several large move-ins contributed to the gain, including ShopRite, Dick’s House of Sport, and Restoration Hardware. Leasing activity, however, fell year-over-year even as vacancy continued along a multi-year downward trajectory, particularly in Hudson County and Northern New Jersey’s eastern nodes. As the nation’s second-tightest major retail market, with 3.1 percent vacancy as of June, limited options may be restricting expansion opportunities even as fitness, sports, experiential, and other service-oriented users continue to pursue space.
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