New Jersey Investment Sales Volume Down Compared to 2022

• NJ office investment volume through the first half of 2023 is down 70% compared to the first half of 2022. This can most likely be attributed to the uncertainty in the future of working environments and the new normal that is working-from-home as well as economic uncertainty surrounding the increasing cost of capital brought on by federal monetary policy.

 

• Along with the lagging sales volume, the weighted average price per square foot also diminished by 35%; reaching lows not seen since Q4 2020 ($145.88) and Q3 2021 ($146.23).

August 15, 2023

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