As we get further away from the height of the COVID lockdown and the threat of recession looms, more employers are leaning on their employees to return to the office. Not all office properties are created equal; some will fare better than others. What types of office properties in New Jersey are going to be best positioned for an office comeback?
We can spend all day long talking about cap rates, interest rates, and investment sales, but at the end of the day the trends begin with the renters and everything else follows suit. So what are our renters up to?
The office segment of commercial real estate is continuing to see growth. While there was a small increase in vacancy (less than 1%) at the end of the first quarter of 2016, the vacancy rate is at a promising 14% overall.