Office leasing in New Jersey rebounded modestly in the third quarter, even as the pandemic continues to weigh on the market and fuels a sizable uptick in availabilities.
In a time of uncertainty for the office sector, many landlords and tenants have stayed bullish on the need for a physical workplace. Look no further than one of Jersey City’s tallest commercial buildings — and the French banking giant that has called it home for nearly 15 years.
A global banking organization has extended its commitment at a Woodbridge office park, where it occupies more than 53,000 square feet under a lease with KBS.
Office tenants continued their flight to new and improved spaces as 2019 came to a close, furthering the case for landlords to upgrade or redevelop New Jersey’s aging stock of buildings.
