PARSIPPANY, NJ— Transwestern's Second-Quarter 2016 Office Market Report Transwestern Matt McDonough Transwestern's Bank of America Merrill Lynch Panasonic Hackensack University Health Network Meridian Health Systems MetroPark Daiichi Sankyo, Quest Diagnostics, Ogilvy CommonHealth, Aralez Pharmaceuticals Leo Pharma Transwestern's
- Tech companies remain active in New Jersey, including new leases signed during the quarter by Avaya, Tangoe and Workwave.
- With the Parsippany, Somerset/Interstate 78 East and Bergen North submarkets experiencing significant quarter-over-quarter rent increases, quarterly rent increased in 16 of 21 submarkets.
- The Hudson Waterfront, Woodbridge/Metro Park, Union/Parkway, Bergen North and Bergen Central submarkets experienced year-over-year rent increases.
- Asking rent in the Hudson Waterfront is nearly $7 higher than a year ago, and, for the first time since 2002, averaged more than $35 per square foot for three consecutive quarters.
- Net absorption was positive for the fourth time in the past five quarters.
Transwestern's Matthew Dolly PARSIPPANY, NJ— Transwestern's Second-Quarter 2016 Office Market Report Transwestern Matt McDonough Transwestern's
- Tech companies remain active in New Jersey, including new leases signed during the quarter by Avaya, Tangoe and Workwave.
- With the Parsippany, Somerset/Interstate 78 East and Bergen North submarkets experiencing significant quarter-over-quarter rent increases, quarterly rent increased in 16 of 21 submarkets.
- The Hudson Waterfront, Woodbridge/Metro Park, Union/Parkway, Bergen North and Bergen Central submarkets experienced year-over-year rent increases.
- Asking rent in the Hudson Waterfront is nearly $7 higher than a year ago, and, for the first time since 2002, averaged more than $35 per square foot for three consecutive quarters.
- Net absorption was positive for the fourth time in the past five quarters.
Transwestern's Matthew Dolly
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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].
