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The Northern and Central New Jersey office market is showing signs of recovery, with the overall vacancy rate declining to 25% in mid-2026, marking its lowest level since the end of 2022.
According to a JLL report, the market absorbed approximately 704,150 square feet during the second quarter of 2026, continuing a strong leasing trend.
The 40 basis point improvement from early 2026 reflects increased demand and represents the fifth consecutive quarter of positive market momentum in the region's commercial real estate sector.
Quick context
- What is the current vacancy rate for Northern and Central N.J. offices?
- According to the JLL report, the overall vacancy rate was 25% at mid-year 2026, representing the lowest level since year-end 2022.
- How much office space was leased in Q2 2026?
- Approximately 704,150 square feet of office space was absorbed in the Northern and Central New Jersey market during the second quarter of 2026.
- What trend does this report indicate for the office market?
- The report shows positive market momentum with the fifth consecutive quarter of strong leasing velocity, indicating growing demand and improving conditions in the commercial real estate sector.
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