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C&W Reports Slower Pace For Office CRE in 2012, Despite Job Gains

EAST RUTHERFORD, NJ – Third quarter market data from Cushman & Wakefield shows a generally slower pace for office real estate around the state so far this year.

By Antoinette Martin | Updated on October 25, 2012

EAST RUTHERFORD, NJ – Third quarter market data from Cushman & Wakefield shows a generally slower pace for office real estate around the state so far this year.

“Despite a significant addition of private sector jobs and other signs of economic improvement, New Jersey faces an unemployment rate of 9.8%, which is well above the national average of 7.8%,” said Gualberto “Gil” Medina, executive managing director of the firm’s New Jersey operations. “Jobs are the key driver for real estate.”

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