CNJCRE member Doug Twyman publishes NJ Q1 2023 Market Reports
Office
- Conditions in the New Jersey office market shifted further in favor of tenants during the first quarter as the gap between supply and demand widened.
- Sublease supply increased sharply following several quarters of stability.
- Large block leasing demand slowed, although Class A product in key submarkets such as Morristown and Metropark remained highly sought after by large corporate occupiers.