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.
| 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.
See reports for nearby markets
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.