Cushman & Wakefield's Q1 2025 report reveals a slowdown in New Jersey's industrial leasing and signs of stabilization in the office market. The office sector saw a reduced rate of decline in net absorption at -541,416 square feet, with vacancy rates holding steady at 22.4%. New leasing activity remained robust at 1.8 million square feet. In the industrial market, leasing activity dropped to 5.5 million square feet, with Class A properties showing positive absorption despite overall negative trends. New construction has significantly decreased, focusing more on build-to-suit projects.
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