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Markets · Ports · Data centers · Logistics
Northern New Jersey industrial land: data center, port and air-cargo demand
Northern New Jersey recorded 17.2 million square feet of first-half leasing, with 8.0 million square feet in the second quarter alone, only the fourth quarter on record above that threshold. Data as of Q2 2026. Vacancy is 8.3% at $17.72 asking rent, and data center pricing rose 19% for 10-plus MW requirements.
Key takeaways
- First-half leasing hit a record 17.2 million square feet, with 8.0 million in Q2 2026 alone.
- Net absorption was 5.9 million square feet, with vacancy at 8.3% and $17.72 asking rent (Q2 2026).
- The Port Authority's 2026 to 2035 capital plan is $45 billion, of which the port department receives $2.0 billion, or 4.8%.
- Data center pricing rose 19% for 10-plus MW requirements, the largest increase of any primary market (Q2 2026).
A quarterly brief on powered land, port capacity and air-cargo gateways, plus the Powered Land and Gateway Pricing Benchmarks data file.
- Dollar per megawatt and dollar per acre benchmarks by market, with the substation-distance and voltage premiums applied
- Every committed United States port capacity opening from 2026 through 2035, with cost, TEU and date
- Airport-adjacent rent premiums by gateway, and the constraint map that drives them
- The named project pipeline: site, megawatts, developer, power source, status
- Sources and periods for every cell. Nothing unattributed.
Northern New Jersey in numbers
| Metric | Value | Period |
|---|---|---|
| Leasing | 17.2 million sq ft, including 8.0 million sq ft in Q2 | First half 2026 |
| Net absorption | 5.9 million sq ft | First half 2026 |
| Industrial vacancy | 8.3% | Q2 2026 |
| Industrial asking rent | $17.72 per sq ft | Q2 2026 |
| Central New Jersey | 9.1% vacancy, $15.40 asking rent | Q2 2026 |
| Port Authority capital plan | $45 billion total, $2.0 billion to the port department, or 4.8% | 2026 to 2035 |
| Harbor deepening | To 55 feet, with rehabilitation of more than 60 wharves and berths | 2026 to 2035 |
| Private terminal operator capital | More than $1.2 billion expected | 2026 to 2035 |
| Data center pricing, 10-plus MW | Up 19%, the largest increase of any primary market | Q2 2026 |
What buyers are paying for here
This is the only market in the coverage set where all three demand pools bid against each other for the same parcels, and the pricing shows it. Industrial asking rent of $17.72 is the highest here by a wide margin, against $15.40 in Central New Jersey at 9.1% vacancy.
On the power axis, data center pricing for 10-plus MW requirements rose 19%, the largest increase of any primary market. The roughly 2x substation premium and the roughly 2.4x premium for 230kV or 500kV service apply on top of land that already clears at port-adjacent industrial pricing, which is what makes a served site here so hard to replace.
The infill premium is the market. There is effectively no large greenfield inside the harbor's drayage ring, so the national spread between small infill and large greenfield collapses into a single infill number, and 8.0 million square feet of Q2 leasing is competing for it.
Apply the published substation-distance and service-voltage premiums to a parcel in Northern New Jersey with the powered land premium calculator.
What is under construction within 100 miles
The Port Authority's 2026 to 2035 capital plan totals $45 billion, of which the port department receives $2.0 billion, or 4.8%.
That programme advances harbor deepening to 55 feet and the rehabilitation of more than 60 wharves and berths, with more than $1.2 billion expected from private terminal operators.
On the building side, first-half 2026 leasing reached a record 17.2 million square feet, including 8.0 million square feet in the second quarter, only the fourth quarter on record above that threshold, with 5.9 million square feet of net absorption.
Named individual data center project sites within 100 miles are not publicly available in the sources behind this page.
The constraint
Container capacity growth in the harbor will come disproportionately from private operator capital rather than from Port Authority terminal construction.
The arithmetic is in the capital plan: the port department receives $2.0 billion of a $45 billion programme, or 4.8%, while more than $1.2 billion is expected from private terminal operators over the same period.
For a landowner this means the counterparty that determines throughput growth is the terminal operator, not the authority. Positioning a parcel against the harbor's expansion means understanding which operator's capital it serves, and on what schedule relative to the 55-foot deepening.
Who covers Northern New Jersey
Brad Cohen covers Northern New Jersey for Landside Partners. Send one parcel and he will return a written read on what it is worth against the demand above, using data as of Q2 2026.
No fee. One parcel. One page. Usually back within five business days.
A quarterly brief on powered land, port capacity and air-cargo gateways, plus the Powered Land and Gateway Pricing Benchmarks data file.
- Dollar per megawatt and dollar per acre benchmarks by market, with the substation-distance and voltage premiums applied
- Every committed United States port capacity opening from 2026 through 2035, with cost, TEU and date
- Airport-adjacent rent premiums by gateway, and the constraint map that drives them
- The named project pipeline: site, megawatts, developer, power source, status
- Sources and periods for every cell. Nothing unattributed.
This research was produced by Landside Partners, a commercial real estate research and advisory firm working with owners of industrial land across North America on data center, seaport and air-cargo demand. To have a specific parcel assessed, contact Brad Cohen at Landside Partners.
Related research
- Markets — Index of the twelve covered metros with each market's headline figure, Q2 2026.
- Houston industrial land — Houston: Plus 11,891,483 square feet of year-to-date industrial net absorption with Project 11 complete. Data as of Q2 2026.
- Inland Empire industrial land — Inland Empire: Sale pricing holding at a 6.0% cap rate while rents fall 4.85% year on year. Data as of Q2 2026.
- Northern Virginia industrial land — Northern Virginia: 0.2% data center vacancy against 4,496.5 MW of inventory, the largest in the world. Data as of Q2 2026.
- Dallas-Fort Worth industrial land — Dallas-Fort Worth: Ranked the number one global primary data center market, displacing Northern Virginia. Data as of Q2 2026.
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