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New Jersey: Large Block Office Space Distribution
- More than 60 blocks of contiguous Class A space greater than 100,000 square feet were marketed for lease during Q1.
- Morris County accounts for one-third of large block spaces and reports the highest Class A vacancy rate in the state at 33%.
- Market dynamics represent a tremendous opportunity for tenants.
- Owners are expected to expand amenity offerings (fitness centers, cafes, etc.) to compete for large tenancies.
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