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Jersey City Office Rent Price & Sales Report

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.

Largest Office Properties Recently Completed in Jersey City
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.

Data provided by Commercial Edge

See reports for nearby markets

  • New York City Office Rent Price
  • Brooklyn Office Rent Price
  • Stamford Office Rent Price
  • White Plains Office Rent Price
  • Newark Office Rent Price
  • Yonkers Office Rent Price
  • Secaucus Office Rent Price
  • Red Bank 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 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.

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