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Office Statistics

United States | Northern New Jersey

Report | New Jersey Office Statistics - Q1 2011

Summary

• Total net absorption measured 77,596 square feet for the first quarter of 2011.
• Northern NJ posted positive 502,033 square feet of absorption while Central NJ net absorption measured -424,437 square feet.
• NJ overall vacancy rate – 25.9%; Northern NJ – 22.0%; Central NJ – 31.7%
• Class A average rental rate was $26.23 per square foot.
• Hudson Waterfront was the most expensive submarket at Class A - $30.96 per square foot.

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