It may be somewhat of a surprise for you to hear that in 2026, New Jersey now has a healthy and robust office market.  How can that be, you might ask?  Larry, all we have been hearing is how the office market in New Jersey is finished!!! We have all seen the abandoned empty office buildings being demolished in favor of a hot industrial market.  Warehouse space has been sprouting everywhere.

       As it turns out, the on-fire warehouse market now seems to have hit its peak just as many new projects are coming on the market.  In fact, we are seeing so much new warehouse space hit the market at once, that available inventory is rising rapidly and rents for industrial space is down about ten percent from the all-time highs.

Readers of this newsletter know that New Jersey has been experiencing the largest consolidation of office space since the 1970’s. We have seen a reduction in the inventory of available office space by about twenty percent from its Pre-Covid amount across the board.  

For tenants seeking to lease office space, this has led to real tightening in the remaining available inventory.  In Bergen Country, for example, occupancy rates for the surviving Landlords properties are above 90 percent, and agents are reporting in recent weeks that they are seeing multiple tenants competing for the remaining available spaces.

As tenant advisors with our ears to the ground, we are working closely with our tenant/clients to help them understand how to compete in a tight market and win.  If you would like to learn more about how we might help you explore your space needs in 2026, why not give us a call, and find out why, at Dickstein Real Estate Services, OUR DIFFERENCE IS YOUR ADVANTAGE.

Regards,

Lawrence Dickstein