- Since 2018, we have tracked 146 office conversion projects in the state of New Jersey.
- So far 16 million square feet (msf) has been removed from New Jersey’s office inventory. There is a further 6 msf proposed for redevelopment.
- Of those 146 conversions, 50, or just over one-third, of them are in Morris County. Bergen County has 27 conversions while Essex County follows closely with 20 projects.
- The total New Jersey office inventory sits at 202 msf. Approximately 12% of the total office inventory has been removed over the last seven (7) years.