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Hackensack Office Rent Price & Sales Report

2020 Office Space Rent & Sales

  • $31.05 2020 Avg. Asking Rent
  • 8.00% 2020 Office Vacancy Rate

Hackensack office price per square foot in 2020 was $31.05 on average. The local office market recorded an average vacancy rate of 8.00% across all asset classes combined.

Average Rent by Office Class

2020 Average Office Rent per Square Foot

  • Hackensack Class A Office Space$35.96
  • Hackensack Class B Office Space$28.86
  • New Jersey Class A Office Space$36.84
  • New Jersey Class B Office Space$26.76
  • New Jersey Class C Office Space$20.32

Hackensack, NJ Office Asking Rents by Class

2020 Office Construction in Hackensack, NJ

  • Hackensack, NJ Total SF completed in 2020

During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Hackensack office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.

Largest Office Properties Recently Completed in Hackensack
Office building Address SF Completed
Alfred N. Sanzari Medical Arts Building 360 Essex Street, 07980 84,000 2002
Hackensack University Medical Center - Justice Marie Garibaldi Medical Plaza 20 Prospect Street, 07601 281,720 1998
Hackensack University Medical Center - Hillcrest Building 60 2nd Street, 07601 60,884 1993
60 State Street 60 State Street, 07601 58,512 1988
Executive Plaza North 505 Main Street, 07601 51,655 1988
75 Essex Street 75 Essex Street, 07601 28,897 1988
155 Polifly Road 155 Polifly Road, 07601 45,912 1987
302 West Pleasantview Avenue 302 West Pleasantview Avenue, 07601 32,388 1987
Two University Plaza 2 University Plaza Drive, 07601 143,000 1986
One University Plaza 1 University Plaza Drive, 07601 126,000 1986

Worth noting among recent office completions on the Hackensack market is Alfred N. Sanzari Medical Arts Building, which is currently the largest new office development in the city, at 84,000 square feet.

Data provided by Commercial Edge

See reports for nearby markets

  • New York City Office Rent Price
  • Brooklyn Office Rent Price
  • Stamford Office Rent Price
  • White Plains Office Rent Price
  • Jersey City Office Rent Price
  • Paramus Office Rent Price
  • Yonkers Office Rent Price
  • Red Bank Office Rent Price

This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Hackensack commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.

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