The 12-story Jack and Sheryl Morris Cancer Center now under construction in New Brunswick is ranked among the 20 largest office buildings in the U.S. office pipeline, according to CommercialCafe, which tracks market and industry trends.
Overall, 0.7% of the New Jersey’s current commercial real estate stock is new office space, which translates to 1.4 million square feet of offices under construction. New Jersey’s largest new project is the Jack and Sheryl Morris Cancer Center, a 520,000-square-foot property owned by RWJ Barnabas Health scheduled for completion later this year.
The Cancer Center ranks No. 17 on the list of the 20 largest U.S. new office building projects. JP Morgan’s new global headquarters, a 2.5-million-square-foot skyscraper in Manhattan known as 270 Park, is the nation’s largest commercial construction project.
Across major U.S. markets, an estimated 51 million square feet of office space is under development, about half of what was in the pipeline in 2024. In fact, the volume of new construction office space in the U.S. pipeline remains at the lowest it’s been in a decade.
The 2025 outlook points to a continuation of this decline due to the shift to more remote work following the pandemic and the modest growth in office jobs, the report said.
Even so, a look at construction activity across U.S. markets reveals Boston’s continued dominance with 7.3 million square feet of office space under construction. Nevertheless, Boston’s total volume of new office construction has declined 50% year-over-year.
The San Francisco market’s projected output has shrunk from nearly 7 million square feet of new office space in 2024 to 3.5 million in 2025, with most of that growth in areas surrounding the city in San Mateo County.
While most of the 20 largest office projects fall under the traditional office space category, the list also included five life sciences projects, two research and development spaces and a creative office. Most are in the Northeast in Boston, Philadelphia and New Jersey.
IQHQ’s 960,000-square-foot Fenway Center in Boston, scheduled for delivery in the second quarter of 2025, is the largest life sciences project under construction. It will be part of a green-energy-oriented, 1.3-million-square-foot, mixed-use development that includes a 12-story, mid-rise building.
The Jack and Sheryl Morris Cancer Center in New Brunswick will be the state’s first and only freestanding cancer facility will include the wide-ranging advanced oncology care services offered by Rutgers Cancer Institute and RWJBarnabas Health, all under one roof — greatly enhancing patient’s access to care. The center will include 10 state-of-the-art laboratories where teams of scientists will develop new treatments that can be transferred directly to clinical settings.
Read more about the innovation hub under construction in New Brunswick here in New Jersey Business Magazine.
