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Demand for New Jersey’s Transit Hubs Expected to Remain Strong

Class A buildings in proximity to NJ Transit train stations remained on the radar screen for office occupiers with space requirements. More than 95.0% of the leases completed during the first half of 2019 were concentrated in Class A buildings.

Stephen Jenco, VP, director, suburban tri-state office research, JLL Stephen Jenco, VP, director, suburban tri-state office research, JLL

EAST RUTHERFORD, NJ—While lease deals of more than 100,000 square feet has been elusive in New Jersey’s transit hub markets, small to medium-sized lease deals have cut into vacancies in these markets that feature mass transit access.

Brokerage firm JLL in an in-depth report on the transit hub markets “Keeping on Track” states that despite decelerating leasing volume in the Northern and Central New Jersey office market, the overall vacancy rate in the state’s transit hub markets declined 50 basis points from year-end 2018 to 20.0% mid-2019, as tenants continue to flock to space in buildings with access to mass transportation.

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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