RUTHERFORD, NJ — Leasing activity in Northern New Jersey's office market in the third quarter included more than half 1 million square feet of positive absorption and nearly 1.2 million square feet of demand for the year to date, according to the third quarter office research report released by Newmark Grubb Knight Frank.
Despite a popular perception that the summer months are slower than the rest of the year, brisk activity continued across most of the region during the summer months, says Michelle Clifford, research manager for NGKF.
NGKF's research study found that the bulk of the leasing activity in third quarter 2015 was in class a properties, with about 592,000 square feet of positive absorption. Class B and C properties showed negative absorption of more than 75,000 square feet.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
