Experts say Newark is enjoying not only a surge of new private-sector investment, but also a level of interest that is helping to break the stigma that has plagued it for decades.
Market Sectors
New Jersey has an unmatched location and a population that developers dream about. It’s no wonder the commercial real estate industry is flourishing and evolving across all segments of the market.
Office market conundrum: improving economic indicators amidst minimal absorption
Experts see a significant conundrum in the office market, as every economic indicator used to forecast absorption performed at or above the forecast level. Further, closely related macroeconomic variables — such as office-using employment — grew steadily, meaning that more office employees were added without much corresponding space leased over the previous six months. While the first quarter reading of just 1.3 million square feet absorbed may be a one-time anomaly, it cannot be ruled out that a structural shift in the office space market has occurred or is occurring.
