Northern New Jersey’s office market has been in decline since the pandemic. Net absorption, or the net change in occupied space, has been negative each year since 2020, culminating in an all-time low of negative 3.6 million square feet in 2023, but that seems to be changing.
Newark, New Jersey, office market sees strongest space demand since 2019
Annual rent growth picks up heading into new year
By Mateusz Wnek
CoStar Analytics
December 9, 2024 | 5:26 P.M.
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