2017 Q4 Office Market Performance

NRBP member Avison Young opened the year by taking a look at NJ's end of year office market performance. Report overview and market report provided by Avison Young Senior Vice President Steven B. Bleiweiss.

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As private sector employment in New Jersey continued to grow to record levels in the fourth quarter of 2017,  we  look forward to more good news as a result of the recently enacted tax reforms and Governor Murphy’s legislative agenda.

And while we are encouraged that Newark advanced to the 20 city shortlist for Amazon’s HQ2, the state still faces many challenges with respect to private sector job creation as long as we remain a comparatively expensive state to live, work and play in.  The sunsetting of the Grow New Jersey Incentives Program in 2019 is also cause for concern as it relates to attracting and retaining jobs in New Jersey.

Click here take a deeper dive into the New Jersey office market’s performance in the 4th quarter of 2017.