Industrial
Amazon, retailers fuel Q4 industrial gains in N.J.

Retailers accounted for more than a third of all industrial gains in northern and central New Jersey at the end of 2017, according to JLL, fueling what amounted to the second-highest net absorption total of any year since the recession ended.

Trend Watch
Demand for large blocks of space accelerates

At the close of 2017, 12 separate 750,000-square-foot tenant requirements were active in New Jersey. Over the past two years, 21 leases in excess of 500,000 square feet closed, with traditional and e-commerce retailers remaining the biggest contributors to big-box leasing activity.

Trend Watch
Trend Watch Jan. 24: IT sector fuels office demand

The IT sector surpassed the financial services and pharmaceutical/life sciences segments as a driver of growth for the New Jersey economy and the commercial real estate market.

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2018 REAL ESTATE MARKET FORECAST

With the state’s unemployment rate below 5.0 percent, employee recruitment and retention will remain top priorities for office occupiers in the coming year. Rather than remaining in outdated, inefficient workspaces, a growing chorus of companies will pursue relocations to upgraded, amenity-filled office buildings to aid in these efforts.

Office
Investment firm taps JLL to market Parsippany office complex

The new owner of Morris Corporate Center III is set to rebrand the property, having hired JLL to market and lease the 541,000-square-foot office complex.

Office
Upgrades coming to Woodcliff Lake office building (UPDATED)

An investor is launching a multimillion-dollar renovation of a Bergen County office building, following its recent purchase of the property from Mack-Cali Realty Corp.

Office
Landlord unveils newly renovated Morristown office buildings (PHOTOS)

Lincoln Equities Group has completed $2 million in upgrades at two office properties just outside downtown Morristown, where it’s now marketing nearly 120,000 square feet.

Office
JLL: Chinese investment, development firm buys Newark office tower

A joint venture has sold the 423,000-square-foot One Newark Center tower, the latest office building to change hands in downtown Newark amid heightened investor interest.

Retail
JLL: Jersey Shore retail center inks 30,000 sq. ft. in leases

An Aldi supermarket and an urgent care center will be among the tenants at a soon-to-be-completed shopping center in Monmouth County, following leases brokered by JLL.

Trend Watch
Trend Watch Dec. 4: New office buildings boast 12% vacancy rate

The year of construction for buildings has significant impact on reported vacancy rate. Buildings completed since 2010 maintained the lowest vacancy rates, as office occupiers prefer new product. Demand for new construction will drive the demolition/rehabilitation of older, vacant office buildings, especially in strategically located markets lacking sites for new construction.