Monthly Archives: July 2016

Metropark: New Jersey’s Transit Hub Continues to Attract Office Tenants

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  • Metropark-COW_New Jersey_Jul_11_2016The Metropark submarket is 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.
  • These attributes have drawn recent office tenant requirements to this submarket.
  • After nearing 25.0 percent in 2014, the Metropark Class A vacancy rate had
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Q2 2016: New Jersey’s Office Market Shows Signs of Improvement

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  • COW_New Jersey_Jun_27_2016After less than 2.0 million square feet of leasing transactions were completed in the Northern and Central New Jersey office market during the first quarter, leasing velocity ticked upward to just over 2.4 million square feet three months later.
  • However, demand remained below the more than 3.0 million square feet of leases completed on a
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