- 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 … Read More
- While the Northern and Central New Jersey overall office vacancy rate was 24.4 percent in the second quarter, vacancy rates varied depending on a building’s year of construction.
- Approximately 40.0 percent of the 158.7 million-square-foot office market were constructed during the 1980s. These buildings posted an average vacancy rate of more than … Read More
The growth and continued access to e-commerce have greatly impacted the global economy and supply chain. From big data to digital technology and demand for train and road access to warehouses, e-commerce is truly a game-changer.
In a new video, JLL’s Global Industrial Board shares perspectives on the current industrial trends experienced around the world. Watch below to learn more.
- Nearly two-thirds of leasing activity witnessed in the Northern and Central New Jersey office market since the beginning of 2016 was focused in three key business sectors: banking/financial services, pharma/life sciences and information/technology.
- While banking/financial services and pharma/life sciences have historically accounted for a large portion of office tenant … Read More
The New Jersey/New York Metro Area leads JLL’s list of the top 18 distribution markets in the United States. Similar to the golfing world, JLL focused on 18 markets (or holes) and breaks down the study to focus on both the “front nine” and the “back nine.”
One reason the New Jersey/New York Metro Area takes the top spot in the “front nine” is because occupiers and investors benefit from the East Coast’s largest… Read More
- Big–box e-commerce requirements remain strong in New Jersey as Amazon.com, Blue Apron and Wayfair leased New Jersey’s largest availabilities. As a result of this demand, absorption skyrocketed in the second quarter of 2016, and is expected to continue at its current pace through the rest of the year.
- Nowhere was this more … Read More
New Jersey Data Center Outlook
In New Jersey, supply is somewhat ahead of demand at the moment, creating a more tenant favorable market. Historically a financial services driven market, the activity is more spread out over a diversified tenant base which includes social media, healthcare and technology clients.
“The current supply allows for special concessions, like the flexibility for tenants to ramp their… Read More
- 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 … Read More
- After 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 … Read More
JLL’s 2016 Skyline Report focuses on the top-tier office market, looking at some of the most iconic and high-rent properties within CBDs and urban cores. This proprietary digital research piece provides insights on office supply, demand, rents and investment in 1,175 Skyline buildings across 52 markets in the United States and Canada.