- The 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 since trended lower for the next six quarters to 15.0 percent by mid-2016. This represented the lowest Class A vacancy rate in Central NJ.
- Hackensack University Health Network/Meridian Health Systems and Bank of America were among the tenants leasing Class A space in this submarket during the first half of 2016.
To read more about this New Jersey transit hub, download JLL’s transit report here.