2019 New Jersey Commercial Real Estate Trends

With a flourishing economy, great prices, beautiful environment, and plenty of space, New Jersey is quickly becoming a hub of corporate America. Business owners from the states have been relocating their offices to New Jersey in hopes of seeing that much-coveted increase in sales and earnings. If it is to believe the New Jersey commercial real estate trends for 2019, the situation will only become better. With a few drawbacks, which were inevitable, of course. What is there to know if considering relocating your offices to New Jersey? Will you be making a good and informed decision that will enable your business to grow? Or will you be ruining your business without realizing it? Let us here at Bluebell Relocation Services NJ help you find out!

One-third of leasing activity will go towards one particular sector

Who else to run the commercial world if not the information technology department? Lately, it seems like all of us are relying on the technology for just about anything. From taking us places to solving our medical problems, we all turn to our computers when in need. Of course, the information technology department is in charge of much more complicated things than that. Otherwise, they wouldn’t be one of the leading industries in today’s world.

A laptop on a desk next to a lamp and a cup.
Once again, the IT sector takes the crown as the most profitable industry in 2019.

So, if thinking about starting up your own information technology business or relocating your existing one, New Jersey is the place to go. New Jersey commercial real estate will embrace you and provide you with what you need. And if what you need are the leading experts in the field and friendly competition, you will be able to find it here. Besides, with so many qualified people in the area, your business will never suffer. Quite the contrary, it will flourish and with it, so will your bank account.

The vacancy is expected to be at an all-time low

Those who are renting out either their homes or business spaces know that the vacancy is the enemy. The goal is to lease out your property as soon as you can and at the best price possible. If you will be renting a property in New Jersey, we have some news for you. The vacancy will be at an all-time low, which means that you will have a harder time finding your perfect office space.

A person holding keys.
No commercial property will stay vacant for too long in New Jersey.

On the other hand, that means that businesses will also be at an all-time high. Many industries and business owners will flock here, which means that your own company will have a better chance of success. Of course, the competition will be fierce, but there is nothing better than some friendly competition to motivate you to be the best version of yourself.

New Jersey commercial real estate trends show that the most expensive area is the Hudson Waterfront

In case you are in the process of finding the perfect office space and hiring interstate movers to relocate your existing office, the New Jersey trends show that there is one area to avoid – the Hudson Waterfront. The highest recorded rent belongs to this area and it eclipses to $42.50 per square foot. In case you do have the means, there is no reason for you to avoid the area. But, if you are not gifted with a hefty budget, the best would be to look for alternatives. If you spend a big portion of your earnings on rent only, your business will suffer. And the point is to achieve the opposite by moving to New Jersey, right?

The retail bankruptcies will slow

So far, New Jersey commercial real estate trends have shown that the future of the retail industry was bleak. Retail businesses plummeted to their annihilation before they even got a chance to rise. For that reason, renting a space and turning it into a supermarket or a boutique has not been so popular lately. That all seems to end in 2019.

A look into a boutique.
The time has come to return to the retail world.

It would be a great lie to say that no stores are expected to be closed in 2019. This is the business world we are talking about – anything can happen. But one thing is certain – in 2019, businesses won’t have to move from NJ to NY in pursuit of success. The retail world is expected to witness a rise, so you should give it a second thought. And what better space to open up your own store than in one of New Jersey’s best and most attractive spots and boardwalks?

Investors are likely to invest in secondary and tertiary markets

While all of us would love to be tech moguls, the reality is slightly different. The truth is that to stay in the tech game, you need plenty of funds. But studies show that investors are more likely to invest in secondary and even tertiary markets, as opposed to the leading industries right now. That’s good news for you. It means that even though your industry may not be a profitable one, you have a chance of attracting investors and getting them interested in your business. 

Three piles of coins next to a jar filled with them.
Money seems to be hiding in unusual spots – in secondary and tertiary markets.

What’s to be concluded?

The conclusion is a simple one – 2019 New Jersey commercial real estate trends show that there is plenty of hope in the future. As long as you avoid the most expensive areas, it is highly likely that your business will get a chance to grow. The growth of your business comes hand in hand with the growth on your bank account, so there’s plenty to be happy about! The next time you ponder about the future of your business, think about New Jersey. It promises to fulfill all of your dreams, and then some!

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