2024 Office Space Rent & Sales
- $27.55 2024 Avg. Asking Rent
- 4.29% Y-o-Y Avg. Asking Rent Change
- 13.21% 2024 Office Vacancy Rate
Montvale office price per square foot in 2024 was $27.55 on average. This marked a +4.29% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 13.21% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2024 Average Office Rent per Square Foot
- New Jersey Class A & A+ Office Space$40.95
- New Jersey Class B Office Space$28.64
- New Jersey Class C Office Space$21.12
Montvale, NJ Office Asking Rents by Class
Office Spaces for Rent in New Jersey
- New York City Office Space
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- Philadelphia Office Space
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- Stamford Office Space
- Cherry Hill Office Space
- Newark Office Space
- Jersey City Office Space
- King of Prussia Office Space
- Doylestown Office Space
- Hamilton Office Space
- Yonkers Office Space
- Conshohocken Office Space
Coworking Spaces in New Jersey
- New York City Coworking Space
- Manhattan Coworking Space
- Washington Coworking Space
- Boston Coworking Space
- Brooklyn Coworking Space
- Charlotte Coworking Space
- Philadelphia Coworking Space
- Columbus Coworking Space
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- Raleigh Coworking Space
- Pittsburgh Coworking Space
- Alexandria Coworking Space
- Cambridge Coworking Space
- Durham Coworking Space
- Cleveland Coworking Space
- Jersey City Coworking Space
- Richmond Coworking Space
- Bethesda Coworking Space
- Asheville Coworking Space
- Queens Coworking Space
2024 Office Construction in Montvale, NJ
- Montvale, NJ Total SF under construction in 2025 60,000
| Office building | Address | SF | Completed |
|---|---|---|---|
| 5 Paragon Drive | 5 Paragon Drive, 07645 | 119,089 | 1984 |
| 50 Chestnut Ridge Road | 50 Chestnut Ridge Road, 07645 | 104,853 | 1982 |
| 135 Chestnut Ridge Road | 135 Chestnut Ridge Road, 07645 | 66,150 | 1981 |
| 102 Chestnut Ridge Road | 102 Chestnut Ridge Road, 07645 | 50,000 | 1979 |
| 155 Chestnut Ridge Road | 155 Chestnut Ridge Road, 07645 | 105,000 | 1975 |
| 85 Chestnut Ridge Road | 85 Chestnut Ridge Road, 07645 | 62,250 | 1966 |
Worth noting among recent office completions on the Montvale market is 5 Paragon Drive, which is currently the largest new office development in the city, at 119,089 square feet.
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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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Montvale 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.