Tag Archives: New Jersey Commercial Real Estate

New Jersey Office Market Leasing Rebounds in Mid-2017

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  • 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
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Going industrial: Why U.S. office space is being converted

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Article by Natasha Stokes

JLL Real Views

An unprecedented demand for industrial space and climbing office vacancy rates are leading landlords to convert low-grade office buildings into flexible warehousing.

Q2 2016: New Jersey’s Office Market Shows Signs of Improvement

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  • COW_New Jersey_Jun_27_2016After 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
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Which Sectors Occupy Office Space Along the Hudson Waterfront?

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  • COW_New Jersey_May_2_2016
  • While banking/financial services firms had initially populated office space in the Hudson Waterfront, other sectors have also sought to establish their footprint in this strategically located market.
  • Retail/consumer goods, business services and information/high-tech sectors collectively accounted for approximately 85.0 percent of the leases completed in the Waterfront during the first quarter.
  • Among the
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New Jersey’s Suburban Transit Hubs: Quick Facts

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JLL New Jersey’s 2016 Transit Hub Report features three of the state’s four suburban hubs. Below are quick facts about each.

MetroparkMetropark:

  • 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.
  • With more than 7,400 average weekday boardings, the Metropark Station is the fourth busiest New Jersey Transit
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New Jersey’s Urban Transit Hubs: Quick Facts

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JLL New Jersey’s 2016 Transit Hub Report features three of the state’s four urban hubs. Below are quick facts about each.

Hoboken/Jersey City:

  • With more than 18.0 million square feet of rentable space, this market represents the largest transit hub market in Northern and Central New Jersey.
  • Nearly 90.0 percent of the office space consists of Class A buildings.
  • Competitive rental rates for high-end Class A space have historically attracted back office/support operations of Manhattan
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Class A Rental Rates Increase in New Jersey’s Transit Hubs

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COW_New Jersey_Apr_4_2016

  • New Jersey’s transit hub markets are characterized as areas housing a significant number of office properties in proximity to a commuter rail station. The five largest markets by rentable inventory include Hoboken/Jersey City, Newark, Princeton, Metropark and Morristown.
  • A lack of new construction combined with a growing appetite for Class A
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Office Insights – Q1 2016

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​While last year’s activity was largely driven by expansions, 2016 is starting out with tenants staying the course. More than half (53.8%) maintained their current occupancy this quarter, rather than expanding. But that hasn’t tempered landlord optimism.

Rents increased 3.2% on average nationwide—the highest quarterly rent growth of this cycle. Bolstered by strong tenant demand and unshaken by concerns over the strength of the economy, landlords continued to push rates in the… Read More