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United States | New Jersey

Report | New Jersey Office Insight - Q4 2015

Summary

With employment growth trending towards its biggest gain in 15 years, the Garden State’s office market looks to be headed in the right direction in 2016.

Class A space was a rather popular choice for New Jersey companies looking to promote top work environments to help with retention and attracting new hires. That drive helped lead the Class A vacancy rate down to its lowest level since mid-2013.

Metropark led all Central New Jersey submarkets in growth, with vacancy rates there falling below 19 percent in 2015—more than five percent less than the state average. With access to highways and public transit, this submarket could see continued growth going forward.

Learn more about what’s happening—and what we expect to occur in the coming months—across the New Jersey office market in our Q4 US Office Insight.

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