A study has shown that Millennials are leaving NJ at a higher than expected rate.

https://www.wsj.com/articles/new-jersey-has-a-millennials-problem-1501426802

But I don’t really agree with the premise. Gen Xers did the same thing just that a higher proportion were able to live on their own. And they went to NYC or Hoboken (like I did) or Jersey City.

But one of the worst landowner situations I can think of is to own space on an office campus. Driving around, the main common attribute is a big AVAILABLE sign.

It’s not an attracting millennials problem, it attracting business in general.

How many pharmas have we chased? Dozens of companies have left for North Carolina, Tennessee, Florida, you name it.

Another trend that I think is being overlooked is that people avoid going to the office as much as they can. And in the white collar world, working from home is easier than ever, with remote printing, VPNs, fiber to the home enabling video conferencing with ease, and global teams where it doesn’t matter where you are physically.

Yes, a great many firms still want their people in the office (a friend at JPMChase says that in their department, the credo is “we’re paying you NYC money, you come to the NYC office”).

But for millennials to want work in the Cranford Business Park, or in Roseland, or in South Plainfield, it will take healthy companies that can offer more than a ping pong table and a coffee bar.