Between work from home and hybrid schedules, many New Jersey offices aren’t as busy as they used to be, but the commercial real estate market is picking up. New data from the real estate firm Coldwell Banker Richard Ellis, shows New Jersey’s office leasing market is rebounding. Year-to-date leasing of more than 3 million square feet is up 127% from the same period a year ago. And asking rents are up 4% over the prior year. The report tracks leasing activity in central and northern New Jersey.
More voices are joining the chorus of those asking Congress to extend tax credits to lower the cost of health care. The enhanced premium tax credits are used to reduce the cost of coverage purchased through the health insurance marketplace. According to the group Protect Our Care New Jersey, 84,000 residents here could lose their coverage if Congress fails to extend the tax credits before they expire at the end of this year. Gov. Phil Murphy has also asked Congress to act, and a coalition of hospital organizations is urging for the extension as well.
Amazon’s New Jersey warehouses are expected to be busier than usual this week, as the e-commerce giant’s Prime Day kicked off on Tuesday. The company’s annual event features two days of discounted merchandise. Meantime, shopping online — which accelerated during the pandemic — is expected to reach a milestone this year. Research from FTI Consulting predicts that e-commerce sales will top $1 trillion for the first time ever, a doubling of sales in just four years.
