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DTZ 2Q Report Sees Strong Gains in Northern and Central NJ Office Market

CHATHAM, NJ–DTZ says the Northern and Central New Jersey office markets in the second quarter had the highest absorption since the first quarter of 2014, and asking rents rose to $26.60 vs. $26.28 a year ago.

By Steve Lubetkin | Updated on July 16, 2015

CHATHAM, NJ–DTZ says the Northern and Central New Jersey office markets in the second quarter had the highest absorption since the first quarter of 2014, and asking rents rose to $26.60 vs. $26.28 a year ago.

“We are seeing a growing confidence in the New Jersey office market,” says Raymond Trevisan, managing principal of DTZ. “As demand for high quality office space continues to grow, asking rents should inch up accordingly. Also, the positive impact of the Grow New Jersey investment program should continue to boost job creation within the state.”

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