New Jersey office occupiers continue to seek smaller footprints

• The product with the lowest availability are smaller office buildings at 13.9% total availability. These office buildings are between 25,000 sf and 99,999 sf.

 

• Mid-size office buildings between 100,00 - 249,000 sf and 250,000 - 500,000 sf are nearly identical at 22.9% and 23.1% respectively.

 

• The biggest office buildings, above 500,000 sf, have recently experienced increased availability rates as office occupiers look to shrink their footprints.

March 12, 2024

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