PARSIPPANY, NJ—Big-box leasing activity drove robust first-quarter industrial demand in northern and central New Jersey, while the financial services and pharmaceutical sectors led office activity, which registered a lower-than-average pace, according to Colliers International Group. Colliers released its first-quarter 2017 Market Snapshots, which outline key trends, transactions and expectations.
INDUSTRIAL
—There was 11.4 million square feet of leasing activity, a level 13.2 percent higher than the five-year quarterly average. Because of scarce available space, tenants opted to renew at an accelerated pace; renewals accounted for 35 percent of all activity.
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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].
