PARSIPPANY, NJ— Transwestern's Second-Quarter 2016 Office Market Report Transwestern Matt McDonough Transwestern's Bank of America Merrill Lynch Panasonic Hackensack University Health Network Meridian Health Systems MetroPark Daiichi Sankyo, Quest Diagnostics, Ogilvy CommonHealth, Aralez Pharmaceuticals Leo Pharma Transwestern's - Tech companies remain active in New Jersey, including new leases signed during the quarter by Avaya, Tangoe and Workwave.
- With the Parsippany, Somerset/Interstate 78 East and Bergen North submarkets experiencing significant quarter-over-quarter rent increases, quarterly rent increased in 16 of 21 submarkets.
- The Hudson Waterfront, Woodbridge/Metro Park, Union/Parkway, Bergen North and Bergen Central submarkets experienced year-over-year rent increases.
- Asking rent in the Hudson Waterfront is nearly $7 higher than a year ago, and, for the first time since 2002, averaged more than $35 per square foot for three consecutive quarters.
- Net absorption was positive for the fourth time in the past five quarters.
PARSIPPANY, NJ— Transwestern's Second-Quarter 2016 Office Market Report Transwestern Matt McDonough Transwestern's - Tech companies remain active in New Jersey, including new leases signed during the quarter by Avaya, Tangoe and Workwave.
- With the Parsippany, Somerset/Interstate 78 East and Bergen North submarkets experiencing significant quarter-over-quarter rent increases, quarterly rent increased in 16 of 21 submarkets.
- The Hudson Waterfront, Woodbridge/Metro Park, Union/Parkway, Bergen North and Bergen Central submarkets experienced year-over-year rent increases.
- Asking rent in the Hudson Waterfront is nearly $7 higher than a year ago, and, for the first time since 2002, averaged more than $35 per square foot for three consecutive quarters.
- Net absorption was positive for the fourth time in the past five quarters.
NOT FOR REPRINT
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.