Northern/Central NJ Market Overview Over 8.0 million square feet leased during the second quarter in the Northern/Central NJ industrial market. Year-to-date over 15.3 million square has leased in the market. • Average asking rates rose to $10.09 per square foot. • Availability/vacancy rate continued to edge lower during the quarter at 2.2%, despite the significant new construction coming online. • More than 2.0 million square feet of industrial properties sold during the second quarter (not including portfolio). • Average sales price during the quarter was approximately $108 per square foot, which is nearly 30% increase from a year ago.