Somerset
Lakewood-New Brunswick - NJ USA - Industrial Submarket
Industrial real estate intelligence for the Somerset submarket. 40.9M SF of inventory with 9.4% vacancy. Data sourced from various MLS platforms.
40.9MSF
Inventory
6.1MSF
Available
9.4%
Vacancy
14.7%
Availability Rate
$16.27
Asking Rent
1.8%
Rent Growth
-1,142,917SF
12mo Absorption
612KSF
Under Construction
Market Metrics
12mo Delivered
666K SF
Under Constr % of Inv
1.5%%
Sale Price/SF
$238
Cap Rate
6.0%%
12mo Sales Volume
$121,328,684
Sales Vol Growth
-77.7%
Asset Value
$9,881,483,864
Net Absorption
-1,142,917 SF
Recent DC Sales in Market
| Property | Price | SF | Buyer |
|---|---|---|---|
| 201 Centennial Ave | $11.0M | 64,698 | Chirisa Technology Parks |
| EWR2 | $16.0M | 49,355 | DataBank |
| Bridgewater - NJ1 | $8.3M | 40,565 | CSB Holdings |
| NYM1 | - | 430,000 | Buyer 1 Global Infrastructure Partners | Buyer 2 Kohlberg Kravis Roberts & Co. L.P. |
| Bank of New York Data Center | $81.5M | 108,336 | BNY Mellon |
Available DC Space in Market
| Property | Avail SF | Rent | Owner |
|---|---|---|---|
| 975 Burnt Tavern Rd | 16,385 | $13.41 - 16.39 (Est.) | John P O'Neill |
| The Commerce Center at Princeton Nurseries | 450,000 | Not Disclosed | - |
Data Centre Development Potential
High vacancy (9.4%) in Somerset may indicate availability of conversion-ready industrial buildings for data centre development. Active construction pipeline of 612K SF indicates developer confidence in the submarket. Negative absorption of 1.1M SF over 12 months warrants caution, though this may create discounted acquisition opportunities.
Other Submarkets in Lakewood-New Brunswick - NJ USA
Evaluating Somerset for Development?
Our advisory team provides site-specific analysis including power availability, zoning, and financial modeling.
Data sourced from various MLS platforms. Industrial market data for informational purposes. Professional due diligence recommended.