Retail strong in N.J., but vacancy rate shows slight uptick
Occupancy at malls and outlet centers remains the strongest among northern New Jersey retail properties, outpacing smaller shopping centers and freestanding stores, according to analysts at the CoStar Group.
In its midyear market report, the commercial real estate research firm found conditions to be mostly flat for the region. During the second quarter, the total amount of occupied space decreased slightly by about 330,000 square feet, with vacancy rising from 6.6 to 6.8 percent. (Burd, NJBIZ)