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Information/technology sector drives Q2 office demand

  • While life sciences companies were active in the Northern and Central New Jersey office market during the first quarter, information/technology companies stole the top spot three months later.
  • This sector accounted for more than one-quarter of the leases signed in the office market. Fueling this uptick was AT&T’s renewal of 252,500 square feet at 30 Knightsbridge Road in Piscataway, which also represented the largest transaction in the office market.
  • Financial services companies were also active, comprising 23.0 percent of leasing velocity. Within this sector, The Guardian Life Insurance Company of America signed a long-term lease for 90,000 square feet at the Bell Works building in Holmdel, while Travelers Insurance renewed 80,640 square feet at 445 South Street in Morristown​​.

Source: JLL Research

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