2020 Office Space Rent & Sales
- $53.56 2020 Avg. Asking Rent
- 0.98% Y-o-Y Avg. Asking Rent Change
- 21.95% 2020 Office Vacancy Rate
Jersey City office price per square foot in 2020 was $53.56 on average. This marked a +0.98% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 21.95% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Jersey City Class A Office Space$54.31
- Jersey City Class B Office Space$46.30
- New Jersey Class A Office Space$36.84
- New Jersey Class B Office Space$26.76
- New Jersey Class C Office Space$20.32
Jersey City, NJ Office Asking Rents by Class
2020 Office Construction in Jersey City, NJ
- Jersey City, 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 Jersey City 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 |
|---|---|---|---|
| Arts & Powerhouse Building | 124 Bay Street, 07302 | 145,630 | 2022 |
| 1 Jackson Square | 1 Jackson Square, 07305 | 45,000 | 2018 |
| 325 West Side Avenue | 325 West Side Avenue, 07305 | 36,067 | 2012 |
| Jersey City Medical Center - Medical Office Building | 377 Jersey Avenue, 07302 | 75,198 | 2010 |
| Newport - 480 Washington Blvd | 480 Washington Blvd, 07310 | 1,099,986 | 2005 |
| 30 Hudson | 30 Hudson Street, 07302 | 1,560,435 | 2004 |
| Newport - 100 Town Square Place | 100 Town Square Place, 07310 | 90,000 | 2003 |
| Harborside Financial Center Plaza 5 | 5 Harborside Plaza, 07311 | 977,225 | 2002 |
| Harborside Financial Plaza 10 | 3 South 2nd Street, 07311 | 577,575 | 2002 |
| Newport - 570 Washington Blvd | 570 Washington Blvd, 07310 | 350,000 | 2002 |
Worth noting among recent office completions on the Jersey City market is Arts & Powerhouse Building, which is currently the largest new office development in the city, at 145,630 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 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 CommercialEdge can guarantee that the information provided is complete.