West of the Hudson River, New Jersey’s Gold Coast Shines
May 16, 2012
By: Kelly Stratton

Why is the Gold Coast gleaming? Northern New Jersey‟s coastline provides easy access to New York City and is remarkably affordable for office, industrial and residential rents alike. ...

... OFFICE STEADY, INDUSTRIAL SHINES 

Reflecting the trend of investors seeking either end of the class spectrum—looking for office space that is either pristine or bargain priced—is the activity being seen in the office market. ...

... Overall, industrial vacancy has steadily improved over the last year, according to Studley. Industrial’s current vacancy rate stands at 8 percent, compared to 9.5 percent in the first quarter of 2011. Research from Studley and CoStar Group shows eight industrial sales in the first quarter of 2012. At this rate, the industrial sales market will well surpass last year’s total of 23 sales. ...

... LOOKING AHEAD

According to CoStar Group research, in the first quarter of 2012, vacancy of industrial space for lease totaled 10.7 percent, 2.5 percent down from a year prior. ...

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