Target has leased 48,000 square feet in Haddon Township, where one of the company’s new small-format stores will anchor a repositioning project being overseen by Kimco Realty Corp.
The swell of cargo volume at the Port of New York and New Jersey has fueled the Garden State’s lowest industrial vacancy in more than 15 years, according to Transwestern, as rents continue to rise and leasing activity continues at a torrid pace.
Big box leases continued to drive New Jersey’s industrial market to start the year, keeping a lid on vacancy as speculative construction carries on throughout the region.
