Edison, NJ Economic Overview
Edison is located in Middlesex County and is the fifth-most populous municipality in the state. Originally known as Raritan Township, the name was changed to Edison Township in 1870 in honor of the inventor Thomas Edison. Because the Township pro-actively seeks out business of all types - retail, office, warehouse, e-commerce, light manufacturing and technology - the commercial real estate market in Edison continues to be strong and robust.
With a resident population of over 103,000, an unemployment rate of less than 4.5%, and a well-educated work force with more than 90% having a high school diploma or higher, the Township is a magnet for employment of all types. In addition to the local residents, during the work week more than 19,000 employees commute into Edison each day. Major manufacturers in Edison, distributors and shipping companies continue to relocate and grow in the Township, attracted by its short commute to New York City and Philadelphia, its centralized location to six state and national highways, and convenient access to the Port Newark - Elizabeth Marine Terminal.
Edison, NJ Commercial Real Estate Market
Edison has benefited from the significant private and institutional investments and development of warehouse, industrial and distribution space within the Township. There is unparalleled access to rail, air and sea ports and the highway network provides access to the most densely populated parts of the U.S., including the New York, Philadelphia, Boston, and Washington, D.C. markets.
A key driver of demand for commercial and industrial space in Edison Township is the Raritan Center Business Park. Its 15 million square feet of flex, office, and warehouse & distribution space is home to hundreds of companies, many of them Fortune 500 importers. The Heller Industrial Park in Edison is one of the largest privately held providers of distribution space in the U.S., with 8.7 million square feet. The commercial market in Edison benefits from the convenient location to the New Jersey Turnpike, the Garden State Parkway, Interstate 287, and State Routes 1, 9 and 440, and from the localized freight rail service.
Edison Township is part of the Central New Jersey Exit 10 Submarket that contains over 314 million square feet of industrial space, over 88 million square feet of office space, and over 213 million square feet of retail space. All property categories continue to show an increase in net absorption and rental rates and decreases in vacancy.
Edison, NJ Office Sales Volume
Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.
Edison, NJ Office Transactions
Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.
Edison, NJ Commercial Inventory Breakdown
Office Spaces
Total: 3,326,107 SF
By square footage range:
- 50k to 100k SF: 827,457 SF / 24.88% of total office
- 100k to 500k SF: 2,498,650 SF / 75.12% of total office
By class:
- Class A: 1,674,109 SF / 50.33% of total office
- Class B: 1,526,998 SF / 45.91% of total office
- Class C: 125,000 SF / 3.76% of total office
Industrial
Total: 29,172,487 SF
By square footage range:
- 50k to 100k SF: 851,120 SF / 2.92% of total industrial
- 100k to 500k SF: 20,729,056 SF / 71.06% of total industrial
- 500k to 1M SF: 6,587,165 SF / 22.58% of total industrial
- > 1M SF: 1,005,146 SF / 3.45% of total industrial
By class:
- Class A: 8,131,134 SF / 27.87% of total industrial
- Class B: 21,041,353 SF / 72.13% of total industrial
Employment in Edison, NJ
Numerous publications have ranked Edison as one of the most livable small cities in the U.S., one of the best 100 places to live in the U.S., and one of the top 10 places to grow up. With a median resident age of just of 38 years, an unemployment rate of just 4.5%, and over 50% of its adult residents holding a bachelor, graduate or professional degree, it's easy to understand why top employers from around the world continue to look for commercial space in Edison.
Main employment occupations in Edison include management, business and finance; sales, office and administrative support; and healthcare technology and personal care. Major employers in Edison include:
- the Robert Wood Johnson University Hospital with over 5,000 employees
- Novo Nordisk with over 4,500 workers
- Wakefern Food Corporation with over 3,500 employees
- Bristol-Myers Squibb with over 3,000
- Johnson & Johnson with over 2,000 employees
Edison is home to New Jersey's largest convention center, the 155,000-square-foot New Jersey Convention & Exposition Center, and is also home to the regional distribution hubs of FedEx, UPS, Newegg and Italian food producer and importer Colavita.
Education in Edison, NJ
Edison has long been renowned for its outstanding educational opportunities. As the fifth-largest school district in New Jersey, with over 15,000 students, Edison has two pre-schools, 11 elementary schools, four middle schools and two high schools. Recently, New Jersey Monthly Magazine ranked the JP Stevens High School as the 35th best high school in the state and the Edison High School as the 135th best. The public school system is focused on ensuring that its students are prepared for college and the careers of the 21st century.
Rutgers University is a short 10-minute commute from Edison. Middlesex County College is located in Edison and offers its 12,000 students a variety of vocational majors, including computer maintenance, hotel management and practical nursing. Other vocational and technical training schools in and near Edison include Lincoln Tech, Middlesex County Vocational & Technical School, and DeVry University.
Commuting Time in Edison, NJ
The average commute time in Edison is just under 21 minutes. Edison is known as the “Crossroads of New Jersey,” thanks in part to the Township's integrated transportation networks, and with the center of New York City just a 35-mile commute and Philadelphia is 60 miles away.
Edison's centralized location gives both residents and businesses access to all major East Coast markets, talented and well-educated employees, and an unparalleled transportation infrastructure:
- Road and highway access via the New Jersey Turnpike, the Garden State Parkway, Interstate 287 and State Highways 1 & 27.
- Commuter rail access via the Edison Train Station & Metropark Train Station with service on the NJ Transit Northeast Corridor Line.
- Raritan Central Railway, located in both the Raritan Center and Heller Industrial Parks, offers businesses a seamless and vertically-oriented transportation solution including transloading and reloading, bulk transfer and storage-in-transit rail car spots.
- The largest sea port on the East Coast, the Port Newark - Elizabeth Marine Terminal is only 20 miles from Edison.
- Newark International Airport is one of three major airports in the New Jersey - New York metropolitan area and is the primary airport serving both New Jersey and the City of New York.
Edison Demographics
Population
- Total Population101,173
- Male Population(48.8 %) 49,410
- Female Population(51.2 %) 51,763
- Median Age38.70
Income/Financial
- Average Household Income$114,310
- Median Household Income$87,688
- Median Income Under 25$86,250
- Median Income 25-44$94,437
- Median Income 45-64$94,381
- Median Income Over 65$53,082