Second half looks good for Somerset County, New Jersey - office markets of Somerset County on rise - Brief Article

As we move into the second half of 2003, the outlook for the office markets of Somerset County continues to be extremely favorable.

Offering residential and business environments that are among the most coveted in the northeast, this region has been busy attracting a great number of new tenants.

One of the major forces driving the market is the increasing number of smaller companies looking for office space throughout Somerset County. From entrepreneurs and private business owners to medical facilities and European companies expanding to the U.S., Somerset County's prime office complexes have become a popular destination to establish headquarters.

At Larken Associates, we develop office properties to cater to smaller users seeking offices ranging from 600 to 5,000 SF. Thus, we continue to report low vacancies, robust demand and strong rental rates at many of our buildings.

And we expect this trend to continue. Somerset County's property values, desirable location and bourgeoning population translate into a strong prognosis for the commercial and office market throughout 2003. Yet, while all indicators remain positive, it pays to be prudent when pursuing investment opportunities--particularly new construction projects. Increasing land prices and slow approval processes - which could take up to two or three years - mean - investors must not only exhibit extreme confidence in the market, but also a considerable amount of staying power.

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