Are New Jersey’s office parks obsolete?

From the New Jersey Market Report: With an increasing number of companies moving toward urban cores, the future of New Jersey’s sprawling suburban office parks and large corporate plazas is in question.

The Garden State, in particular, is vulnerable to sweeping trends in the use and subsequent obsolescence of traditional low-slung and sprawling office parks. Stephen Stirling of NJ Advance Media wrote in a piece last year, “The New Jersey office park isn’t what it used to be, and the state’s job market is suffering for it.” Stirling went on to call New Jersey’s office sector a “job-sucking albatross.” And when Newmark Grubb Knight Frank writes a report titled “Suburban Office Obsolescence,” as they did in September 2015, it’s clear that something is amiss. [more]