More Options Further Away from Transit

It’s hard to find office space in the New Jersey suburbs in the locations where companies now want to be most: in prime locations in bustling downtown areas, within walking distance of a commuter rail station.

The downtown areas in suburban New Jersey have an average of just four options for office space, with more than 20,000 square feet of space within a half-mile of a town’s mass transit station, according to a study of 12 suburban downtowns in New Jersey by Newmark Knight Frank (NKF).

But, if tenants extend their search to properties within two miles of a mass transit station, they find an average of 43 options.

New transportation technology, such as ride hailing, is also making it easier to get to these properties and neighborhood amenities. Driverless cars may soon play a role as well.

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