• Net absorption was 581,546 sq. ft. in the third quarter and leaves year-to-date net absorption just under 800,000 sq. ft.
  • The availability rate fell by 27 basis points (bps) which was the third consecutive quarterly decline.
  • The overall average asking rent was steady quarter-to-quarter at $26.48 per sq. ft.
  • Leasing activity increased quarter-over-quarter by 20% to 1.49 million sq. ft.
  • Office-using employment in NJ decreased by less than 1% between Q3 2018 and Q3 2019 to 990,000i.