2025 Office Space Rent & Sales
- $31.98 2025 Avg. Asking Rent
- 6.84% 2025 Office Vacancy Rate
What is the average asking rent price for office space in Millburn?
Average asking rents for office space here stand at $31.98 per square foot. The local office market recorded an average vacancy rate of 6.84% in 2025, unchanged from 6.84% in 2024.
Millburn, NJ Office Asking Rents by Class
What is the average office rent per square foot by property class in NJ?
- Avg. Asking Rent Class A & A+$40.31
- Avg. Asking Rent Class B$28.60
- Avg. Asking Rent Class C$21.70
For comparison, the average rent for Class A and A+ office space in New Jersey was $40.31 per square foot. The state-wide average for Class B space was $28.60 per square foot, and Class C office spaces averaged $21.70 per square foot.
What are the largest recent office completions in Millburn?
The largest recent office completion here is 150 John F. Kennedy Pkwy at 262,354 square feet, completed in 1985. The next largest completions are 103 John F. Kennedy Pkwy and Millburn Gateway Center.
| Office building | Address | SF | Completed |
|---|---|---|---|
| 45 Essex St | 45 Essex St, 07041 | 19,320 | 1987 |
| 150 John F. Kennedy Pkwy | 150 John F. Kennedy Pkwy, 07078 | 262,354 | 1985 |
| 90 Millburn Avenue | 90 Millburn Ave, 07041 | 11,615 | 1982 |
| 103 John F. Kennedy Pkwy | 103 John F. Kennedy Pkwy, 07078 | 123,000 | 1980 |
| 27 Bleeker Street | 27 Bleeker Street, 07041 | 32,000 | 1969 |
| Millburn Gateway Center | 187 Millburn Avenue, 07041 | 100,000 | 1947 |
| Schoolhouse Plaza | 374 Millburn Avenue, 07041 | 46,385 | 1895 |
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Disclaimer
All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.
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.