2024 Office Space Rent & Sales
- $48.59 2024 Avg. Asking Rent
- -2.68% Y-o-Y Avg. Asking Rent Change
- 27.53% 2024 Office Vacancy Rate
Jersey City office price per square foot in 2024 was $48.59 on average. This marked a -2.68% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 27.53% 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
2024 Average Office Rent per Square Foot
- New Jersey Class A & A+ Office Space$40.95
- New Jersey Class B Office Space$28.64
- New Jersey Class C Office Space$21.12
Jersey City, NJ Office Asking Rents by Class
Coworking Spaces in New Jersey
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2024 Office Construction in Jersey City, NJ
| Office building | Address | SF | Completed |
|---|---|---|---|
| Newport - 480 Washington Blvd | 480 Washington Blvd, 07310 | 1,099,986 | 2005 |
| Newport - 100 Town Square Place | 100 Town Square Place, 07310 | 90,000 | 2003 |
| Harborside Financial Center 10 | 3 2nd Street, 07302 | 575,000 | 2002 |
| Colgate Center on the Hudson | 70 Hudson Street, 07302 | 438,158 | 2001 |
| Newport - 499 Washington Blvd | 499 Washington Blvd, 07310 | 550,000 | 2000 |
| Newport - 111 Town Square Place | 111 Town Square Place, 07310 | 480,000 | 1998 |
| Newport Tower | 525 Washington Blvd, 07310 | 1,099,067 | 1993 |
| 101 Hudson Street | 101 Hudson Street, 07302 | 1,347,712 | 1992 |
| 101 Hudson Street | 101 Hudson Street, 07302 | 1,246,283 | 1992 |
| Newport Office Tower | 525 Washington Boulevard, 07310 | 1,061,000 | 1991 |
Worth noting among recent office completions on the Jersey City market is Newport - 480 Washington Blvd, which is currently the largest new office development in the city, at 1,099,986 square feet.
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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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by Yardi Research Data, a market intelligence solution which offers comprehensive real market knowledge on all Jersey City 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 Yardi Research Data can guarantee that the information provided is complete.