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Michael McGuiness, CEO of NAIOP New Jersey, reports that half of the properties identified for possible conversion are located in Hudson and Bergen counties.
Manhattan office leasing has taken a tumble with leasing volume dropping by nearly 50 percent quarter-over-quarter. The slowdown in leasing activity is attributed to the stark drop in transactions during March when the coronavirus pandemic, also known as COVID-19, commenced, according to a recent Colliers International.