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PARSIPPANY, NJ-According to newly released data from Colliers International New Jersey, the office market is nearing a state of equilibrium, but pockets of activity may be skewing the data. For example, two large users have purchased headquarters space in Somerset County, taking them off the leasing market.

Oticon Inc. recently purchased a 162,000-square-foot building at 580 Howard Ave., tripling the size of its existing Somerset headquarters and consolidating its various offices into one location. In addition, SHI International Corp. is relocating from Piscataway through the purchase of the 420,000-square-foot building at 290 Davidson Ave., where it will occupy approximately half the space there, keeping the other half for future growth and leasing options to other tenants.

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