JLL Skyline focuses on the top-tier office market, looking at the most iconic buildings that define the skylines of our CBDs and urban cores. The site, and the corresponding marketing campaign, provides an overview of supply, demand, rents and leverage for 1,300+ Skyline buildings across 57 markets in the United States and Canada.
- Approximately 2.0 million square feet of leases were signed in the Northern and Central New Jersey office market during the second quarter, which represented a slight improvement from the 1.4 million square feet of leasing transactions in early 2017.
- Despite this uptick, leasing volume remained below the 3.2 million square feet averaged quarterly in 2016.
- Furthermore, … Read More
JLL released the 2017 Life Sciences Outlook. Highlights for Northern and Central New Jersey include:
- Prism Capital Partners closed on its purchase of the former Roche Clifton/Nutley research campus, which will allow the developer to redevelop the 116-acre site with a mix of commercial, retail and residential components. The new Seton Hall-Hackensack Meridian School of Medicine … Read More
- Nearly 17.0 percent of this sublease space was concentrated in the Route 78 submarket.
- More than 4.2 million square feet was marketed for sublease in the Northern and Central New Jersey Class A office market during the first quarter of 2017.
- Among the largest blocks overshadowing the Route 78 submarket was 310,000 square feet marketed for … Read More
Here are six steps to prepare your business and your workplace for the future:
- Align your office with business goals: As technology and operations continue to drive change, there is more pressure to innovate than ever before. Just as technology changes the way we do business, it also impacts where work happens. The role, function and … Read More
JLL released the U.S. Industrial Outlook for Q1 2017, and the market started the year on a positive note.
Highlights for New Jersey Industrial:
- The “new normal” for industrial rental rates has left many tenants with a feeling of sticker shock.
- Vacancy rates in primary sub-markets reached new historic lows, and in some cases stand below 2.0 percent.
- Despite the recent surge in rental rates for Northern and Central New Jersey, leasing velocity for new space remained strong.
Higher rents and continued growth in Q1 2017 resulted in optimistic forecasts for the United States office market. As a new phase of the economic cycle begins, there is a shift in supply and demand.
The following are three things to keep an eye… Read More
JLL’s Future of Work is a unique outlook on the changing world of work and its impact on the next generation of corporate real estate. Areas that companies should consider for improvements include: human experience, digital drive, continuous innovation, operational excellence and financial management.
“Organizations must examine how work and the workforce are evolving… Read More
JLL has identified 10 global trends impacting CRE this year. As owners and investors determine how to adjust their business strategies to enhance innovation and growth for greater returns and stability, the following macro issues should be considered.
- Volatility: volatile operating environments will challenge corporations.
- Agility: this capability will drive performance.
- Optimization: location and portfolio strategies will be under intense scrutiny.
- Smart growth: selective M&A and collaborative growth will define CRE priorities.
- Open innovation: CRE will need to support open innovation and … Read More
There are a few New Jersey market CRE trends that we saw at the end of 2016, that we expect to see continue in 2017.
- Among the submarkets posting the largest quarterly rent increases was the Hudson Waterfront, where the asking Class A rental rate eclipsed $42.50 per … Read More