Report | New Jersey Office Insight - Q1 2016
New Jersey’s overall vacancy rate ticked slightly upward to start 2016, but Class A space is on the rebound.
Hudson Waterfront is seeing especially large gains. That single submarket has seen 199,500 square feet of absorption over just the past three months.
We expect the state’s transit hubs to remain in focus for tenants throughout the rest of the year, with companies wanting to locate in areas that offer easy access to mass transit. Markets like Hoboken/Jersey City, Metropark, Morristown, Newark, New Brunswick and Summit should especially benefit from this trend.
Learn more about what’s happening right now in New Jersey—and what we can expect over the next couple months—by downloading our Q1 2016 US Office Insight.
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