The Garden State places 25th among the top 40 markets in the country this year for the development of office space. It achieves that ranking by virtue of 864,000 square feet of new office space due this year, with the 450,000-square-foot Ironside Newark building the largest office project on track here. (The report is by the real-estate blog, CommercialCafé.)
It probably will come as no surprise that California’s Bay Area and New York City lead the rankings, with 11 million square feet and 10 million square feet of new offices, respectively. The single largest office development this year is the 80-story, 2.8 million-square-foot 3 World Trade Center in New York City.