Leasing

Parkway reports that the law firm will occupy the entire 305,000-square-foot office building at 2222 Market St. The office building will be the first non-Comcast commercial office building constructed in the city's CBD in more than 30 years.

Last year's activity marked a 2.5% increase from 2018 and was in fact the strongest leasing volume for the decade, according to Cushman & Wakefield.

The deal with building owner KBS will allow BNP Paribas to continue to fully occupy the first and third floors of Building D at the six-building, 630,000-square-foot complex.

Sax LLP will be moving from 855 Valley Road in Clifton to the Latitude property by this August. The firm also maintains an office in Pennington, NJ, as well as two locations in Manhattan at 551 Madison Ave. and 350 Fifth Ave.

The restructure and expansion of Shockwave Medical Inc.'s headquarters represents a larger Silicon Valley footprint by some 50,200 square feet at 5353 Betsy Ross Dr. in the Great America Tech Center.

The market has the lowest industrial vacancy rate in the US at 1.3% with 21 consecutive quarters below 2%.

Cushman & Wakefield reports US Foods has signed a lease renewal for 275,000 square feet at 9399 W. Higgins Road, part of the Riverway office campus. The lease renewal includes an option for further expansion at Riverway.

New Jersey's office market recorded nearly 10 million square feet of positive absorption during the final seven years of the 2010s, Transwestern stated in its Fourth Quarter 2019 Office Market Report for New Jersey.