New Jersey's office vacancy has ticked up by 40 basis points 27 percent in the first quarter compared with the previous three months, a market report from JLL finds. That comes after the category declined in the second half of 2024.
The Chicago-based firm attributed the negative trend to corporate relocations.
"Relocations by companies including Samsung Electronics and Bank of America resulted in large blocks of office space recently being placed on the market," JLL explained.
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