Category Archives: Research

2017 New Jersey Commercial Real Estate Trends

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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.

New Jersey Road Sign with dramatic clouds and sky.

  • Among the submarkets posting the largest quarterly rent increases was the Hudson Waterfront, where the asking Class A rental rate
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JLL’s U.S. Employment Data and Trends

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United States unemployment rate is the lowest it has been since August 2007, setting the stage for an imminent interest rate hike from the Federal Reserve in the near future. JLL’s employment report digs into the data and the trends.

The November 2016 employment summary includes:

  • The U.S. labor market added 178,000 net new jobs in November, consistent with monthly additions during the second half of 2016 but below the year-to-date and 2015 averages.
  • Labor-market tightening
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Q3 2016 Industrial Investment Outlook

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The U.S. Industrial market is going strong, as absorption rates continued to hit new highs in the third quarter of 2016. JLL’s report identified five key themes that have emerged across the country.

warehouse-interior

Below are highlights from the top three themes in JLL’s Q3 U.S. Industrial Investment Outlook report:

  1. The U.S. industrial
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Select Northern New Jersey Submarkets Drive Q3 Absorption of Class A Office Space

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cow_new-jersey_nov_7_2016

  • After registering negative absorption earlier this year, a rebound in leasing velocity changed the course of the Northern New Jersey Class A market during the past six months. Demand for Class A space led to 335,970 square feet being absorbed in the second quarter, followed by an additional 501,450 square feet
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A Limited Group of Developers Control the Majority of New Industrial Development in New Jersey

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  • cow_new-jersey_oct_24_2016Northern and Central New Jersey’s new industrial development has become concentrated among a small group of institutional developers. 67.4 percent of all new development this cycle was controlled by the 10 largest developers in the market. Furthermore, an additional 13.6 percent of new construction was controlled by the next 10 largest
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JLL 2016 Tech Outlook

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The technology sector is still the leading industry for real estate expansion and employment growth. JLL’s 2016 Tech Outlook features everything you need to know about tech today in the United States.

Top Five National Trends to Watch

  1. Technology remains the leading industry for real estate expansion in the United States and has quickly become a key economic driver in many cities.
  2. National tech employment may be slowing, but it’s still driving employment growth
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Technology Sector Drives Q3 Office Demand

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  • 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
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New Jersey’s Newest Office Buildings Boast Lowest Vacancy Rates

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  • cow_new-jersey_sept_12_2016While 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
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Trends Impacting E-Commerce and Supply Chain

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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.

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Which Sectors are Driving New Jersey’s Office Demand?

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COW_New Jersey_Aug_22_2016

  • 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
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