CHATHAM, NJ-Commercial real estate markets are on the mend – and should achieve relative health by 2015 - because the New Jersey economy is gaining serious momentum, even if it “doesn't feel like it,” Cassidy Turley's chief economist Kevin J. Thorpe said at a press briefing here Tuesday.
He said the state is on pace to add 76,000 new jobs this year, which would put it in the top five states for job growth.
Also, Cassidy Turley's preliminary 3rd quarter office market statistics were aired at the session with Thorpe, who is based in Washington, D.C., and New Jersey principal Raymond P. Trevisan. The numbers reflected stabilized or slightly reduced vacancy and prodigious absorption of space in both northern and central Jersey.
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