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Colliers: New Jersey Office Market Holds Steady

PARSIPPANY, NJ-A flat market is leading to a balance between tenant demands and landlord’s selectivity, says Colliers International’s second quarter market overview.

By Debra Hazel | Updated on July 12, 2011

PARSIPPANY, NJ-Say goodbye to the renters’ market–but don’t think that New Jersey commercial real estate has turned in favor of the landlords yet, according to Colliers International New Jersey’s second quarter 2011 report.

A flat market, with transactions nearly on par with previous quarters, has led to a balance between tenant demands and landlord selectivity, the firm says. “There is still a lot of the office market sitting on the sidelines,” Matt Dolly, head of research for Colliers International New Jersey, tells GlobeSt.com. “And companies still are not hiring.”

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