
According to CoStar, a nationally recognized real estate data resource, North Central Bergen County has a 7.2% office vacancy rate which equates to 180,000 square feet of vacant space. The Route 208 Corridor has a 6.7% vacancy rate which equates to 147,400 square feet of vacant space. So there is 327,400 square feet of vacant office space in the immediate vicinity. Ridgewood Water couldn’t successfully negotiate a lease under these conditions?