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Lack of larger leases keeping office market in neutral

  • ​Leases in excess of 100,000 square feet have been elusive in the Northern and Central New Jersey office market since the beginning of 2017. Such transactions comprised less than 5.0 percent of the leases completed in the office market.
  • Instead, smaller-sized transactions penned the storyline for the office market. Leases in the 10,000-25,000-square- foot range accounted for more than one-half of signed deals.
  • The Northern and Central New Jersey overall vacancy rate is expected to ebb and flow until there is an uptick in the volume of larger leases completed in the office market.​​

Source: JLL Research




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