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August 24 2012

New Jersey office leasing gains momentum

New Jersey’s office market is looking more alive and had a strong finish to the first half of the year with a flurry of smaller deals. The pace of office leasing increased, with a total of 1.9 million square feet leased in the six-month period. That outpaces the five-year historical average by slightly more than 10%. These submarkets posted the highest leasing velocity in Q2:

  • Route 287/78 Interchange with 395,559 square feet
  • The waterfront in northern New Jersey, with 327,633 square feet
  • The Garden State Parkway corridor in Central NJ, with 187,851 square feet

  1. shagarie posted this