2023 Office Space Rent & Sales
- $30.47 2023 Avg. Asking Rent
- 0.52% Y-o-Y Avg. Asking Rent Change
- 20.16% 2023 Office Vacancy Rate
Cranford office price per square foot in 2023 was $30.47 on average. This marked a +0.52% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 20.16% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- New Jersey Class A & A+ Office Space$39.79
- New Jersey Class B Office Space$27.52
- New Jersey Class C Office Space$33.47
Cranford, NJ Office Asking Rents by Class
Office Spaces for Rent in New Jersey
- New York City Office Space
- Manhattan Office Space
- Brooklyn Office Space
- Queens Office Space
- Philadelphia Office Space
- Bronx Office Space
- Stamford Office Space
- Cherry Hill Office Space
- Jersey City Office Space
- King of Prussia Office Space
- Newark Office Space
- Doylestown Office Space
- Hamilton Office Space
- Yonkers Office Space
- Conshohocken Office Space
Coworking Spaces in New Jersey
- New York City Coworking Space
- Manhattan Coworking Space
- Washington Coworking Space
- Brooklyn Coworking Space
- Boston Coworking Space
- Charlotte Coworking Space
- Philadelphia Coworking Space
- Columbus Coworking Space
- Cincinnati Coworking Space
- Raleigh Coworking Space
- Pittsburgh Coworking Space
- Alexandria Coworking Space
- Cambridge Coworking Space
- Durham Coworking Space
- Cleveland Coworking Space
- Jersey City Coworking Space
- Richmond Coworking Space
- Queens Coworking Space
- Bethesda Coworking Space
- Asheville Coworking Space
| Office building | Address | SF | Completed |
|---|---|---|---|
| Mack-Cali Corporate Center | 20 Commerce Drive, 07016 | 223,224 | 1991 |
| Cranford Business Park - 20 Commerce Drive | 20 Commerce Drive, 07016 | 186,813 | 1991 |
| 340 North Ave E | 340 North Avenue East, 07016 | 35,716 | 1985 |
| Mack-Cali Corporate Center | 65 Jackson Drive, 07016 | 82,062 | 1984 |
| 4 Commerce Drive | 4 Commerce Drive, 07016 | 60,850 | 1982 |
| Mack-Cali Corporate Center | 11 Commerce Drive, 07016 | 90,000 | 1981 |
| Mack-Cali Corporate Center | 6 Commerce Drive, 07016 | 58,000 | 1973 |
| Cranford Business Park - 6, 10-12 & 14 Commerce Drive | 6 Commerce Drive, 07016 | 198,036 | 1968 |
| 25 Commerce Drive | 25 Commerce Drive, 07016 | 67,749 | 1968 |
| 14 Commerce Drive | 14 Commerce Drive, 07016 | 67,190 | 1968 |
Worth noting among recent office completions on the Cranford market is Mack-Cali Corporate Center, which is currently the largest new office development in the city, at 223,224 square feet.
See reports for other markets
- Princeton Office Rent Price
- Cherry Hill Office Rent Price
- Marlton Office Rent Price
- Jersey City Office Rent Price
- Hamilton Office Rent Price
- Manhattan Office Rent Price
- Austin Office Rent Price
- Phoenix Office Rent Price
- Los Angeles Office Rent Price
- San Antonio Office Rent Price
- San Francisco Office Rent Price
- Charlotte Office Rent Price
- Seattle Office Rent Price
- Chicago Office Rent Price
- Washington Office Rent Price
- Atlanta 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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Cranford 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.