Southern NJ's vacancy rate returns to the single digits
Quarter over quarter, the regional vacancy rate declined 30 basis points (bps) to 10.4%, primarily driven by activity in the Southern NJ submarket. Southern NJ's vacancy rate fell 100 bps to 9.8%, marking its first return to single digits since Q3 2023. Meanwhile, Northern DE's vacancy rate rose 40 bps from Q2 2026 to 10.4%, while Southeast PA's rate increased just 10 bps to 10.8%.