Northern New Jersey Industrial Market Report

Freight dynamics reinforce infill logistics. First-half net absorption was the strongest since 2022, though momentum may ease in the second half. Loaded imports at the Port of New York and New Jersey edged lower year-over-year through July, while monthly cargo volumes swung sharply amid trade uncertainty and shifting shipment timing. Continued Red Sea risks and Panama Canal constraints could add further volatility. Meanwhile, elevated transportation costs may reinforce the longstanding value of close-in logistics properties that reduce drayage and regional distribution distances. Recent leasing patterns align with this, with warehouse commitments rising sharply in Hudson County, the Meadowlands, Newark-Elizabeth, and Linden-Carteret in the past year.