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United States | New Jersey

Report | New Jersey Office Insight - Q3 2016

Summary

An increase in Class A demand pushed the overall New Jersey vacancy rate lower following a sluggish start to 2016. It was led by suburban-centric submarkets like Lower 287, Monmouth and Route 24. Each posted more than 200,000 square feet of positive absorption.

Route 24's Class A vacancy rate fell to 25.8 percent is now at its lowest level in two years after nearly 450,550 square feet of positive net absorption in Q3. That was largest absorption volume in all of the Northern and Central New Jersey Class A market during the third quarter.​

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