NJ Transit Hub Perspective - Mid-year 2019

NJ TRANSIT HUB PERSPECTIVE | MID-YEAR 2019 Defining New Jersey’s Transit Hubs & Villages New Jersey’s Transit Hubs are typically characterized by one or more of these factors: a significant number of office properties clustered near or within a downtown, urban or town center; adjacent or proximate to a New Jersey Transit rail station; and offers a mass transit commuting option within walking distance of the commuter’s office location. Urban Transit Hubs Suburban Transit Hubs Hoboken/Jersey City Newark New Brunswick Trenton Metropark Morristown Princeton Summit Urban Transit Hubs in this report are major office markets with rail stations that allow commuters living in New Jersey and Manhattan the advantage of reaching the rail stations without having to drive. These Urban Transit Hubs are: Suburban Transit Hubs are smaller versions of Urban Transit Hubs with more local access, typically smaller office buildings and walkable amenities. Suburban Transit Hubs contained therein are: Mid-2019 Average (asking) rental rate (PSF) Mid-2019 Vacancy Express to NYC Standard to NYC SUMMIT $40.00 7.9% 37 Min 58 Min HOBOKEN / JERSEY CITY $43.78 18.1% Light Rail 13 Min METROPARK $33.10 19.0% 37 Min 45 Min PRINCETON $29.44 29.1% 52 Min 90 Min MORRISTOWN $28.25 13.2% 61 Min 72 Min TRENTON $26.12 6.9% 67 Min 98 Min NEWARK $28.52 23.8% 18 Min 28 Min NEW BRUNSWICK $23.00 4.6% 30 Min 45 Min

NJ Transit Hub Perspective - Mid-year 2019 | Seite 6