Tag Archives: office

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 quarterly in 2016.
  • Furthermore,
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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 eclipsed $42.50 per
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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.

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 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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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 demand, the information/technology
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Metropark: New Jersey’s Transit Hub Continues to Attract Office Tenants

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  • Metropark-COW_New Jersey_Jul_11_2016The 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 vacancy rate had
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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 companies active in
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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 Station after New
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