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“New developments are drawing more attention, particularly from retailers that are looking to develop a presence in Brooklyn as an extension of their Manhattan mainstays,” says REBNY president John Banks.
There were approximately 421,113 square feet of new leases and renewals executed in Burlington, Camden and Gloucester Counties, an increase of about 6.6 percent compared with the previous quarter.
“Tenants aren't using office space the same way they were when BOMA International released its last office standard, and amenities like rooftop gardens and balconies are becoming much more common.”