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Northern New Jersey

Metropolitan Area Economic Overview
Calculations for all indices were provided by SRC, LLC

Market Research provided by NAI James E. Hanson
Last Updated: 26-Oct-2010		 Market Overview
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Market Research

* Click on each category for a detailed definition.
Low High Effective Avg. Vacancy Investment Yield
Downtown Office
New Construction (AAA) $ 29.00 $ 44.00 $ 33.00 16.0% 7.0%
Class A (Prime) $ 22.00 $ 36.00 $ 26.00 16.0% 6.5%
Class B (Secondary) $ 12.50 $ 22.00 $ 17.50 19.0% 9.0%
 
Suburban Office
New Construction (AAA) $ 26.00 $ 36.00 $ 32.00 55.0% 6.5%
Class A (Prime) $ 19.00 $ 46.00 $ 29.00 13.6% 7.0%
Class B (Secondary) $ 13.00 $ 25.00 $ 18.50 14.0% 8.5%
 
Industrial
Bulk Warehouse $ 2.50 $ 7.00 $ 6.25 10.0% 7.0%
Manufacturing $ 2.25 $ 6.50 $ 5.25 12.0% 8.0%
High Tech / R&D $ 6.00 $ 13.00 $ 9.50 7.0% 6.5%
 
Retail
Downtown $ 11.00 $ 45.00 $ 25.00 7.5% 6.5%
Neigborhood Service Centers $ 13.00 $ 27.00 $ 19.50 13.0% 6.5%
Community Power Center $ 12.50 $ 26.00 $ 20.00 6.2% 6.0%
Regional Malls $ 35.00 $ 60.00 $ 48.00 2.1% 6.5%

Development Land Low () High ()
Office in CBD N/A N/A
Land in Office Parks $ 150,000 $ 600,000
Land in Industrial Parks $ 100,000 $ 500,000
Office/Industrial Land - Non-park $ 75,000 $ 400,000
Retail/Commercial Land $ 250,000 $ 2,000,000
Residential $ 100,000 $ 1,000,000

 

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