2020 Office Space Rent & Sales
- $34.81 2020 Avg. Asking Rent
- 2.43% Y-o-Y Avg. Asking Rent Change
- 18.26% 2020 Office Vacancy Rate
Edison office price per square foot in 2020 was $34.81 on average. This marked a +2.43% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 18.26% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Edison Class A Office Space$37.64
- Edison Class B Office Space$26.27
- Edison Class C Office Space$24.74
- New Jersey Class A Office Space$36.84
- New Jersey Class B Office Space$26.76
- New Jersey Class C Office Space$20.32
Edison, NJ Office Asking Rents by Class
Average office rent in Edison rested at $34.81 per square foot in 2020. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Edison averaged $37.64 per square foot. Across all submarkets, class B office space recorded an average asking rent of $26.27 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $24.74 per square foot, on average. Comparably, statewide New Jersey average office rents by class in 2020 were: $36.84 per square foot for class A office space; $26.76 per square foot for class B office space; $20.32 per square foot for class C office space.
2020 Office Vacancy Rates in Edison
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Cranford - Union | $37.55 | 25.59% |
I-287 South | $26.90 | 10.67% |
2020 Office Construction in Edison, NJ
- Edison, 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 Edison 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 |
---|---|---|---|
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 |
4 Progress Street | 4 Progress Street, 08820 | 28,908 | 1992 |
2015 Lincoln Hwy | 2015 Lincoln Hwy, 08817 | 37,635 | 1991 |
515 Plainfield Avenue | 515 Plainfield Avenue, 08817 | 31,319 | 1989 |
Metroplex Corporate Center - 200 Metroplex Drive | 200 Metroplex Drive, 08817 | 127,849 | 1988 |
Edison Square West | 2035 Lincoln Hwy, 08817 | 97,380 | 1988 |
Worth noting among recent office completions on the Edison market is 102 James Street, which is currently the largest new office development in the city, at 26,769 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 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.