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Analysis

Northern NJ Office Vacancies Hit Great Recession Level

Nearly 26% of offices in North and Central NJ are vacant.

Office vacancies in Northern and Central New Jersey are hitting levels last seen during the Great Recession that followed the global financial crisis.

The Q1 2023 office vacancy level for the northern half of the Garden state was 25.8%, just a couple of ticks lower than the 26% peak in 2009, according to a new report from JLL.

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Jack Rogers

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