"As major corporate players strive to gain market share andprofitability, the landscape of New Jersey-based businesses isseeing significant changes," according to Eisen. He points to themergers of Honeywell and Allied Signal, Warner Lambert and Pfizer,and Philip Morris and Nabisco.

"The companies that remain in charge in those cases are basedout of state," he points out. "As a result, their real estatedecisions could have a marked impact. At the same time, a number ofcompanies find themselves with excess real estate holdings, andthey're looking to purge their property assets through subleasesand dispositions."

According to C&W statistics, for the first half of thisyear, the Northern New Jersey market now has close to 2.9 millionsf of sublease space available. That's approximately triple theamount from the same time last year. For users, investors andowners, that creates "prime expansion and acquisitionopportunities," Eisen says. "Subleases and purchases will driveactivity in the coming months."