This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
All Information is from a source deemed reliable, however no representation, expressed or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omission, change of price, rental or other conditions imposed by our principals.
Class A: Extremely desirable investment-grade properties, commanding the highest rents and sales prices. Buildings are well located and provide efficient tenant layouts. They will contain modern mechanical systems, above average maintenance and management as well as the best quality materials and workmanship in trim and interior/exterior fittings. There is ample car and truck parking, 30’+ ceiling heights, large and plentiful docks. Virtually all new construction is Class A, comprising the majority of product built after 2000.
Class B: Older, middle of the road type properties, usually built 1970’s - 1990’s with 16’-28’ ceilings. Typically have average to good maintenance, management and tenants. Less desirable than Class A to investors and qualified tenants. May be deficient in a number of respects including floor plans, condition and facilities, including less docks, drive-ins and no climate control. They lack prestige and must depend chiefly on a lower price than Class A to attract tenants and investors.
Class C: No-frills properties often built no later than the 1960’s, that offer basic space and command lower rents and sales prices than any other buildings in same market. They have below-average maintenance and management and could have a mixed or low tenant prestige. Inferior or lacking mechanical/electrical systems are common too. Some properties may be lacking docks and tractor trailer parking entirely and could be contaminated. Ceilings are generally under 20’.
Market # of Properties Inventory SF Total Vacant SF Total Vacancy Vacancy Quarterly Change (bps) Total Availability Net Absorption SF Industrial Avg. NNN
Rent Flex Avg. NNN Rent Under Construction SF Delivered SF Proposed SF
New Jersey 20,886 958,304,109 38,969,110 4.1% (14) 7.0% 3,232,912 $7.49 $11.55 11,932,098 2,012,938 33,589,521
Market # of Properties Inventory SF Total Vacant SF Total Vacancy Vacancy Quarterly Change (bps) Total Availability Net Absorption SF Industrial Avg. NNN
Rent Flex Avg. NNN Rent Under Construction SF Delivered SF Proposed SF
Class A 10 1,172,019 7,328 0.6% (126) 4.2% 14,723 $8.70 $12.44 0 0 0
Class B 384 22,123,220 980,480 4.4% (53) 7.6% 117,244 $8.34 $10.65 0 0 0
Class C 404 13,720,042 417,929 3.0% (36) 5.3% 49,936 $9.07 $11.59 0 0 0
All Information is from a source deemed reliable, however no representation, expressed or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omission, change of price, rental or other conditions imposed by our principals.
All Information is from a source deemed reliable, however no representation, expressed or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omission, change of price, rental or other conditions imposed by our principals.
All Information is from a source deemed reliable, however no representation, expressed or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omission, change of price, rental or other conditions imposed by our principals.
All Information is from a source deemed reliable, however no representation, expressed or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omission, change of price, rental or other conditions imposed by our principals.
LEE & ASSOCIATES - NEW JERSEY is part of the 60 office Lee National network
$15+
BILLION TRANSACTION VOLUME (2018)
1000+
BROKERS AND GROWINGNATIONWIDE
1st
PRIVATE BROKERAGE FIRMIN UNITED STATES
91%
INCREASE TRANSACTION VOLUME
OVER 5 YEARS
Licensed Real Estate Broker
All Information is from a source deemed reliable, however no representation, expressed or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omission, change of price, rental or other conditions imposed by our principals.