Research

New Jersey office insight- Q2 2018

Decelerating leasing volume continued to overshadow the Northern and Central New Jersey office market through mid-2018. Less than 1.6 million square feet of leases were completed during the second quarter, which represented a nearly 50.0 percent decline in activity from the same timeframe one year ago. While most of the recent demand was generated by smallersized leases, a handful of transactions in excess of 100,000 square feet were recorded during the second quarter. Among the largest new deals was Integra LifeSciences’ leasing of a 167,000-square-foot building at 1100 Campus Road in Plainsboro. The global medical technology company received a $17.8 million state tax credit to relocate its operations within Middlesex County.

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