Stephen Jenco, vice president and director of suburban tri-state office research, Jones Lang LaSalle Stephen Jenco, vice president and director of suburban tri-state office research, Jones Lang LaSalle

EAST RUTHERFORD, NJ—Leasing activity in the Northern and Central New Jersey office market was down approximately 45 percent in 2017 compared with deal volume recorded in 2016, according to Jones Lang LaSalle. The state registered 7.1 million square feet in transactions in 2017, compared with 12.9 million square feet in deals the year before.

“Much of the demand for office space in 2017 was fueled by smaller leases, rather than the 100,000-square-foot and larger transactions needed to put a significant dent in the office vacancy rate,” says Stephen Jenco, vice president and director of suburban tri-state office research. “Less than five percent of the leases completed in 2017 were larger than 100,000 square feet, compared with 15 percent of transactions during the same period last year.”

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Steve Lubetkin

Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].

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