Office Rental Market
- $33.99 2019 Avg. Asking Rent
- 15.41 % 2019 Avg. Vacancy Rate
- 0 2019 Office Completions (Sqft)
- 0 2020 Estimated Pipeline (Sqft)
Average Office Asking Rents by Class
2019 Average Office Rent per Square Foot
- Edison Class A Office Buildings$37.40
- Edison Class B Office Buildings$26.08
- Edison Class C Office Buildings$25.09
- NJ Class A Office Buildings$34.44
- NJ Class B Office Buildings$27.61
- NJ Class C Office Buildings$19.72
Edison, NJ Office Asking Rents by Class
Office asking rents vary across the Edison office market depending on several factors, one of which is property class. While rents for Class A office buildings in Edison averaged $37.40 per square foot in 2019, Class B office properties garnered average rental rates of $26.08 per square foot. Rental rates for Class C office property in Edison averaged $25.09 per square foot. On a statewide level, Class B office space rents averaged $27.61 per square foot, while rents for Class A office space across New Jersey averaged $34.44 per square foot. On average, Class C office properties in New Jersey commanded rents of $19.72 per square foot.
2019 OFFICE VACANCY RATES
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Cranford - Union | $38.12 | 23.02 % |
| I-287 South | $25.98 | 7.08 % |
- The lowest office vacancy rate in 2019 in Edison was 7.08 % in the I-287 South submarket, where asking rents averaged $25.98.
- The highest office vacancy rate in 2019 in Edison was 23.02 % in the Cranford - Union submarket, where asking rents averaged $38.12.
OFFICE CONSTRUCTION IN Edison, NJ
- Edison, NJ Total Sqft completed in 2019 0
- Edison, NJ Total Sqft under construction in 2020 0
| Building name | Address | Total Sqft | Year built |
|---|---|---|---|
| Metropark Corporate Campus - 399 Thornall Street | 399 Thornall Street, 08837 | 335,196 | 1984 |
| Metropark Corporate Campus - 379 Thornall Street | 379 Thornall Street, 08837 | 331,053 | 1986 |
| Raritan Plaza I | 110 Fieldcrest Avenue, 08817 | 263,061 | 1985 |
| Raritan Plaza I | 110 Fieldcrest Avenue, 08837 | 262,500 | 1985 |
| Metropark Corporate Campus - 499 Thornall Street | 499 Thornall Street, 08837 | 254,263 | 1981 |
| Lincoln Place | 2147 Lincoln Hwy, 08817 | 247,985 | 1980 |
| 333 Thornall Street | 333 Thornall Street, 08837 | 196,128 | 1984 |
| 343 Thornall Street | 343 Thornall Street, 08837 | 195,709 | 1991 |
| Raritan Plaza III | 105 Fieldcrest Avenue, 08837 | 182,672 | 1981 |
| Metroplex Corporate Center - 200 Metroplex Drive | 200 Metroplex Drive, 08817 | 127,849 | 1988 |
| Office building | Address | Sqft | Completed |
|---|---|---|---|
| 102 James Street | 102 James Street, 08822 | 26,769 | 2004 |
| Toranco Oak Tree Plaza | 2163 Oak Tree Road, 08820 | 85,809 | 2000 |
| Toranco Office Park - 3910 Park Avenue | 3910 Park Avenue, 08820 | 39,536 | 1999 |
| 225 May Street | 225 May Street, 08837 | 35,335 | 1999 |
| JFK Medical Center - Office Complex | 80 James Street, 08820 | 55,236 | 1995 |
| Executive Plaza | 10 Parsonage Road, 08837 | 115,200 | 1992 |
| 4 Progress Street | 4 Progress Street, 08820 | 28,908 | 1992 |
| 343 Thornall Street | 343 Thornall Street, 08837 | 195,709 | 1991 |
| 2015 Lincoln Hwy | 2015 Lincoln Hwy, 08817 | 37,635 | 1991 |
| 515 Plainfield Avenue | 515 Plainfield Avenue, 08817 | 31,319 | 1989 |
Office Spaces for Rent in New Jersey
See trends for nearby markets
The Edison office market contains an inventory of 3,736,935 square feet of office space, in 46 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 Edison 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.