1.6M Sq. Ft. Of New Constructions Coming To Meadowlands

NORTH JERSEY, NJ — More than 1.6 million square feet of properties are under construction in the Meadowlands and scheduled to open within a year.

That is a according to a new report by NAI James E. Hanson, a Hackensack-based development corporation.

The third quarter of 2017 ended with more than 700,000 square feet leased at an average rate of $8.42 per square foot, a $.43-cent increase from the previous quarter and $1.16 increase from the third quarter of 2016.

Of the newly-leased space, Adore Me subleased 126,000 square feet in Secaucus.

Two properties on Bell Drive were sold for $51 million and 1 Catherine St. in Teterboro was sold for $35.5 million.

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