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Trend Watch Oct. 30: Smaller leases keep office market in neutral
Leases in the 10,000-25,000-square- foot range accounted for more than one-half of signed deals in the Northern and Central New Jersey office market.
Urban logistics set to change industrial real estate’s competitive landscape
The rising demand for sites that will support urban logistics centers has driven growth in Northern New Jersey, while also creating competition among developers, as forgotten industrial markets reemerge. Retailers, parcel carriers and food and beverage companies have all increased their demand for industrial space less than ten miles from Manhattan. Formerly obsolete locations throughout New York’s boroughs are reemerging as competitive alternatives to the New Jersey markets.
Trend Watch Oct. 16th: Office vacancy rate steady as leasing volume hits new low
[vc_row][vc_column][vc_text_separator title="Sponsored Content" color="mulled_wine"] Year-to-date leasing velocity of 5.2 million square feet represents a nearly 50.0 percent decline from the same timeframe one year ago. Recent office demand has been fueled by...
Trend Watch Oct. 2nd: Big-box leasing activity accelerates in New Jersey
Over the last three months, New Jersey’s industrial market recorded nearly 10.0 million square feet of leasing activity, with big-box markets like Southern New Jersey and Exit 8A seeing a flurry of activity.
New Jersey’s transit hub markets on track for continued growth
Office buildings within the state’s transit hub market continue to command higher rents compared to their suburban peers, according to JLL’s annual research report. Proximity to mass transportation within walking distance of amenity-rich areas has expanded the millennial demographic across these markets. The resulting demand for high-end Class A office space—that helps companies attract and retain the talent settling into these neighborhoods—drives rent premiums beyond that achieved in suburban markets.
