New Jersey’s Suburban Transit Hubs: Quick Facts

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JLL New Jersey’s 2016 Transit Hub Report features three of the state’s four suburban hubs. Below are quick facts about each.

MetroparkMetropark:

  • Considered one of the most strategic office locations in the state, owing to its superior highway access and commuter rail service via Amtrak and New Jersey Transit.
  • With more than 7,400 average weekday boardings, the Metropark Station is the fourth busiest New Jersey Transit Station after New York Penn Station, Newark Penn Station and Hoboken Terminal.
  • Demand has pulled the Class A vacancy rate below 17.0 percent in 2015 compared to 21.0 percent in 2014.

Morristown:

  • Second smallest suburban transit hub market after Summit, with 2.0 million square feet of inventory nearly equally split between Class A and Class B buildings.
  • Most of the office buildings are in proximity to Morristown Station, with the balance of the market near Convent Station.
  • Area near Morristown Station is rapidly being redeveloped to accommodate strong demand for multifamily housing units.
  • Buildings in downtown Morristown boast single digit vacancy rates.

Princeton:

  • Passenger rail service is accessible via the Hamilton and Princeton Junction train stations located on Amtrak’s Northeast Corridor.
  • With an office inventory of nearly 4.7 million square feet, represents the largest suburban transit hub market in Northern and Central New Jersey.
  • More than 80 percent of the inventory consists of Class A buildings.

To read more on each of these suburban hubs, download the full report here.

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