JERSEY CITY, NJ-Jones LangLaSalle indisputably got a plum whenMack-Cali turned to it to market 4 million squarefeet of prime waterfront area office space here. On the hand,Jersey Gold Coast waterfront space is not as plummy as it used tobe.
A new analysis by Cushman &Wakefield researchers indicates the submarket hasstruggled out of the recession, and market fundamentals havesoftened.
In the last 18 months, the waterfront area has seen negativeabsorption of 709,124 square feet. Since 2010, the vacancy rate hasrisen 1.4 percentage points to 10.4%.
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