In May 2016, CBRE Group, Inc. (CBRE) reported that developers saw a need for large industrial buildings in New Jersey and responded by developing speculative (not pre-leased) projects. While speculative development is very risky, tenants responded by gobbling up the space at a rapid rate. Demand … [Read more...]
6.17.14: A Look at Empty Office Space in Northern/Central New Jersey
The Star-Ledger, New Jersey’s largest newspaper, recently published an article that examines the direction of office demand in Northern and Central New Jersey. It provides some takeaways for office demand trends in other suburban markets. Since office properties are a large component of CMBS loans, … [Read more...]
4.24.13: Office Vacancy Struggling to Get Traction in New Jersey
According to the N.J.-based Star-Ledger, economists gauging the recovery in New Jersey can look to commercial real estate as an indicator. What they’ll find is a market that has been stagnant and struggling to get traction since the mid-2000s. And until jobs return, most sectors of commercial real … [Read more...]