Home > Research > U.S. Market Reports Detail

U.S. Market Reports

Southern New Jersey Market Reports

Southern New Jersey Office Market

Average Asking Rent (Price/SF) $21.17
Vacancy Rate (%) 16.1%
Net Absorption (SF) -37,958

Office vacancy rose in the second quarter of 2018, as Subaru began to consolidate into its new Camden headquarters. The overall vacancy rate ticked up to 16.1%, an increase of 20 basis points from the first quarter and 170 points from one year ago. Class A properties experienced a bump in vacancy driven by small-scale tenant moves, rising 60 basis points from the first quarter to 16.2%, the highest vacancy in the past two years. Vacancy for Class B properties stayed flat at 17.0%, as Subaru's departure from 11,219 square feet at Three Executive Campus was offset by Virtua's occupation of 30,000 square feet at the recently renovated 6991 North Park Drive.



Southern New Jersey Office Market Report
2Q18
Download the PDF

Local Market Contact:

General Research Inquiries: