Jason Price, Cushman & Wakefield's director of Suburban Tri-State Research
EAST RUTHERFORD, NJ—Leasing activity in Northern and Central New Jersey of more than 2 million square feet in the third quarter helped push year-to-date volume in those markets well ahead of last year's pace, according to a report released by Cushman & Wakefield.
The commercial brokerage firm states that year-to-date leasing volume in Northern and Central New Jersey totas 6.2 million square feet—8.1% ahead of last year's totals during the same period.
"Strong suburban tenant demand across the state countered some major blocks of space coming online as new vacancies," Jason Price, Cushman & Wakefield's director of Suburban Tri-State Research, says. "As a result, after hitting a recent vacancy low of 17.1% at mid-year, the rate ticked just slightly higher to 17.2%."
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
