Technology Sector Drives Q3 Office Demand

0 CommentsBy
  • cow_new-jersey_oct_10_2016While 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.

Leave a Reply

Your email address will not be published. Required fields are marked *