- While banking/financial services and pharmaceutical/life sciences have historically accounted for a large portion of Northern and Central New Jersey office demand, information/technology companies recently stepped into the batter’s box. This sector accounted for nearly one-third of leasing activity during the third quarter compared to less than 10.0 percent of transactions one year ago.
- Contributing to the latest uptick was iCIMS’ leasing of 350,000 square feet at the redeveloped Bell Works in Holmdel, while iconectiv absorbed 115,000 square feet at Somerset Corporate Center I in Bridgewater.
- Proximity to Manhattan and a skilled workforce replenished by graduates from the state’s universities will help keep New Jersey on the radar screen of tech companies.
Agency Leasing, Brokerage, Commercial Real Estate, CRE, Employment and jobs, JLL, New Jersey, NJ, Office, Research, Technology