Southern New Jersey Office Market
| Average Asking Rent (Price/SF) | $20.90 |
| Vacancy Rate (%) | 15.7% |
| Net Absorption (SF) | 8,928 |
New Jersey was under a shelter-in-place mandate for nearly the entire duration of the second quarter of 2020, following the government response to the global pandemic. As a result, activity in the Southern New Jersey office market was muted over the past three months. The shelter-in-place mandate ended on June 9th, but New Jersey was among the states hardest hit by the initial coronavirus wave and in light of the ongoing health threat, some office tenants have elected to maintain some or all employees on an indefinite work-from-home schedule.
Download Southern New Jersey Office Market Report 2Q20