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NJ Office Vacancies Are Fat But Stable, According to Report

EAST RUTHERFORD, NJ-A 10.4% vacancy rate isn't the best we've had, but in an economy that's slipping and sliding, maybe it's stability we should be looking for. But watch for more concessions as owners rush to close deals.

By John Salustri | Updated on April 25, 2001

EAST RUTHERFORD, NJ-New Jersey’s overall vacancy rate of 10.4% for Q1 isn’t anything to cheer about, but given the fact that corporate leasing activity has cooled, maybe we should consider ourselves lucky.

According to newly released statistics from Cushman & Wakefield, the numbers really haven’t budged for three months now. That’s pretty good, considering that some major space has returned to the market, including Lucent Technologies placing 248,884 sf on the Parsippany market and AT&T surrendering 154,167 feet in Short Hills.

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