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  • CW NJ Office Scorecard 4Q15

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    The document provides various statistics on the New Jersey commercial real estate market including an unemployment rate of 5.3%, a 1.6% year-over-year growth in private employment, and a current industrial inventory of 190.7 million square feet. It also shows data on vacancy rates, rental rates, leasing volumes, and net absorption for both Northern and Central New Jersey. Significant available properties and fourth quarter 2015 lease transactions are highlighted.

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    The document provides various statistics on the New Jersey commercial real estate market including an unemployment rate of 5.3%, a 1.6% year-over-year growth in private employment, and a current industrial inventory of 190.7 million square feet. It also shows data on vacancy rates, rental rates, leasing volumes, and net absorption for both Northern and Central New Jersey. Significant available properties and fourth quarter 2015 lease transactions are highlighted.

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    70 views1 page

    CW NJ Office Scorecard 4Q15

    Uploaded by

    Anonymous Feglbx5
    The document provides various statistics on the New Jersey commercial real estate market including an unemployment rate of 5.3%, a 1.6% year-over-year growth in private employment, and a current industrial inventory of 190.7 million square feet. It also shows data on vacancy rates, rental rates, leasing volumes, and net absorption for both Northern and Central New Jersey. Significant available properties and fourth quarter 2015 lease transactions are highlighted.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    STATS

    SUPPLY

    5.3%
    NJ Unemployment Rate

    DEMAND

    1.6%

    <INSERT SERVICE LINE /


    DEPT NAME>
    (3 LINES MAXIMUM)

    Y-O-Y % Change, Private Employment

    190.7

    18.7%

    $26.35

    2.2

    10.9

    INVENTORY
    (MSF)

    OVERALL VACANCY
    RATE

    DIRECT ASKING
    RENTAL RATE

    Q4 LEASING
    (MSF)

    2015 YTD LEASING


    (MSF)

    DIRECT RENTAL RATE VS. OVERALL VACANCY RATE


    $28.00
    $26.00

    28.0%

    NEW LEASING ACTIVITY


    12

    26.0%

    9.34

    10

    24.0%

    MSF

    22.0%

    $24.00

    20.0%
    18.0%

    $22.00

    2013

    2.32

    14.0%
    2011
    2012
    NNJ Direct Rental
    NNJ Overall Vacancy

    2.55

    16.0%
    $20.00

    2014
    2015
    CNJ Direct Rental
    CNJ Overall Vacancy

    YTD OVERALL NET


    ABSORPTION (MSF)

    10.86
    7.88

    8.09

    2.17

    2.16

    1.86

    2.65

    1.99

    2.08

    1.89

    1.93

    6.91

    2.38

    1.87
    1.41
    1.55

    2.10

    2.08

    1.84

    2.22

    2.27

    2011

    2012

    2013

    2014

    2015

    Q1

    OVERALL NET ABSORPTION

    2.0

    Q2

    Q3

    Q4

    3.77

    5 year Avg.

    2015 LEASING BY SIZE RANGE (by SF)

    3,000,000
    2,000,000

    18.8%
    28.0%

    1,000,000

    <10,000
    10-24,999

    25-49,999

    12.7%

    50-99,999

    -1,000,000
    -2,000,000
    2011

    2012

    2013

    NJ Total

    NNJ

    2014

    2015

    15.8%

    CNJ

    100-249,999
    250,000+

    SIGNIFICANT Q4 2015 LEASE TRANSACTIONS

    SIGNIFICANT AVAILABILITIES
    BUILDING

    13.0%

    11.8%

    SQUARE FEET

    BLDG.
    CLASS

    DIRECT
    /SUBLET

    BUILDING

    TENANT

    SQUARE BUILDING
    FEET
    CLASS

    3000 Continental Drive, Mount Olive

    970,000

    Direct

    1 Hess Plaza, Woodbridge

    NJ Turnpike Authority

    205,000

    1 Lake Street, Upper Saddle River

    471,813

    Direct

    56 Livingston Avenue, Roseland

    Lowenstein Sandler LLP

    170,047

    5 Giralda Farms, Madison

    463,427

    Direct

    10 Journal Square, Jersey City

    WeWork

    101,000

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