Cherry Hill Office Market Trends

Office Rental Market

  • $21.64 2019 Avg. Asking Rent
  • 11.89 % 2019 Avg. Vacancy Rate
  • 0 2019 Office Completions (Sqft)
  • 0 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Cherry Hill was $21.64 per square foot, and the office vacancy rate across the market averaged 11.89 %. During 2019, developers added 0 square feet of new office space to the Cherry Hill market inventory. Office developments estimated for delivery during 2020 total 0 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Cherry Hill Class B Office Buildings$21.70
  • Cherry Hill Class C Office Buildings$20.96
  • NJ Class A Office Buildings$34.44
  • NJ Class B Office Buildings$27.61
  • NJ Class C Office Buildings$19.72

Cherry Hill, NJ Office Asking Rents by Class

OFFICE CONSTRUCTION IN Cherry Hill, NJ

  • Cherry Hill, NJ Total Sqft completed in 2019 0
  • Cherry Hill, NJ Total Sqft under construction in 2020 0
10 Largest Office Buildings in Cherry Hill
Building name Address Total Sqft Year built
Woodcrest Corporate Center 101 Woodcrest Road, 08003 385,923 2005
Woodland Falls Corporate Park 210 Lake Drive East, 08002 215,465 1986
Cherry Hill Office Center 1040 North Kings Hwy, 08034 185,000 1975
Colwick Business Center 57 Haddonfield Road, 08002 174,658 1987
Penn Medicine Cherry Hill 1865 Marlton Pike East, 08003 155,308 2016
Cherry Tree Corporate Center 535 State Route 38 East, 08002 150,000 1985
Commerce Center 1800 Chapel Avenue West, 08002 147,173 1985
Libertyview 457 Haddonfield Road, 08002 121,737 1990
One Cherry Hill 1 Mall Drive, 08002 120,000 1970
Executive Mews 1930 Marlton Pike East, 08003 112,000 1980
Largest Office Properties Recently Completed in Cherry Hill
Office building Address Sqft Completed
Kennedy Health Medical Office Building 2201 Chapel Avenue West, 08002 102,000 2017
Penn Medicine Cherry Hill 1865 Marlton Pike East, 08003 155,308 2016
LourdesCare at Cherry Hill 1 Brace Road, 08034 55,000 2013
Woodcrest Corporate Center 101 Woodcrest Road, 08003 385,923 2005
Beowulf Plaza 1814 US Route 70 East, 08003 32,000 2004
Libertyview 457 Haddonfield Road, 08002 121,737 1990
Woodcrest Pavilion 10 Melrose Avenue, 08003 49,569 1990
Cherry Hill Business Park - 7 Carnegie Plaza 7 Carnegie Plaza, 08003 90,804 1988
Colwick Business Center 57 Haddonfield Road, 08002 174,658 1987
51 Haddonfield Road 51 Haddonfield Road, 08002 100,000 1987
Data provided by Commercial Edge

Office Spaces for Rent in New Jersey

CHERRY HILL OFFICE SALES TRENDS

  • $77.262019 Avg. Price per Sqft
  • -25.38 %Y-o-Y Avg. PpSF Change
  • $22.6M2019 Office Sales Volume
  • 52019 Number of Transactions

In 2019, office sales in Cherry Hill averaged $77.26 per square foot. This marked a -25.38 % decrease in office price per square foot, compared to the previous year. A total of 5 office sales closed on the Cherry Hill office market in 2019, amounting to a total sales volume of $22.6M.

Average Office Sale Price per Sqft

Cherry Hill, NJ Sales Trends

  • Cherry Hill Price per Sqft$77.26
  • New Jersey Price per Sqft$141.98

Office Sales - Trend and Volume

  • Cherry Hill, NJ Total Office Sales Volume in 2019 $22.6M
  • Cherry Hill, NJ Total Number of Office Sales Closed in 2019 5

Largest Cherry Hill Office Sales in 2019

Property name Address Date Price
Colwick Business Center 57 Haddonfield Road 7/5/2019 $11,000,000
1010 Kings Hwy South 1010 Kings Hwy South 8/1/2019 $4,370,000
South Jersey Medical Center 1401 US Route 70 East 7/31/2019 $4,000,000
950 North Kings Hwy 950 North Kings Hwy 9/27/2019 $2,825,000
4 Haddonfield Road 4 Haddonfield Road 5/10/2019 $450,000
Data provided by Commercial Edge

See trends for nearby markets

The Cherry Hill office market contains an inventory of 3,668,453 square feet of office space, in 75 buildings that are equal to or larger than 25,000 square feet.

This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive knowledge on all Cherry Hill 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.