Tag Archives: New Jersey

U.S. Industrial Market Starts 2017 on a Positive Note

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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.

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New Jersey Industrial Preleasing Rates Accelerate in Q1 2017

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  • Industrial Preleasing-Snapshots_New Jersey_Mar_27_2017Since 2015, preleasing rates have continued to accelerate as developers attempt to meet swelling industrial demand near major population centers. Unable to find high quality existing facilities, many users have turned to proposed development sites, and projects under construction to meet their industrial space requirements. Over the last two years preleasing activity
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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 absorbed three months
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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 developers.
  • Prologis, Bridge Development
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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 in the United
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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 year ago.
  • Contributing to
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New Jersey’s 2016 Life Sciences Outlook

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JLL’s New Jersey 2016 Life Sciences Outlook highlights that the pharmaceutical/life sciences industry has become one of New Jersey’s leading economic engines within the last 130 years. The state claims the headquarters or operations for 13 of the 20 largest pharmaceutical/life sciences companies.

Modern clean research laboratory

Modern clean research laboratory

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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 26.0 percent.
  • Less than
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