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Florham Park Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $28.52 2023 Avg. Asking Rent
  • 20.68% 2023 Office Vacancy Rate

Florham Park office price per square foot in 2023 was $28.52 on average. The local office market recorded an average vacancy rate of 20.68% 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

2023 Average Office Rent per Square Foot

  • New Jersey Class A & A+ Office Space$39.79
  • New Jersey Class B Office Space$27.52
  • New Jersey Class C Office Space$33.47

Florham Park, NJ Office Asking Rents by Class

2023 Office Vacancy Rates in Florham Park

Submarket Asking Rents Vacancy Rates
Florham Park $30.41 24.49%
Hanover $23.48 20.67%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Florham Park market was 20.68% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Florham Park was 20.67% in the Hanover submarket, while the highest office vacancy in the market was 24.49%, recorded in Florham Park.

Office Spaces for Rent in New Jersey

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Coworking Spaces in New Jersey

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2023 Office Construction in Florham Park, NJ

Largest Office Properties Recently Completed in Florham Park
Office building Address SF Completed
Benz Jean Enterprise 30 Vreeland Rd, 07932 1,100 2024
Park Place 200 Park Avenue, 07932 351,955 2001
180 Park Avenue 180 Park Avenue, 07932 221,706 2001
Park Avenue at Morris County - 500 Campus Drive 500 Campus Drive, 07932 180,752 1999
Park Avenue at Morris County - 300 Campus Drive 300 Campus Drive, 07932 102,801 1999
Park Avenue at Morris County - 600 Campus Drive 600 Campus Drive, 07932 99,401 1998
Park Avenue at Morris County - 200 Campus Drive 200 Campus Drive, 07932 189,236 1992
Park Avenue Corporate Center 100 Campus Drive, 07932 372,994 1990
Park Avenue at Morris County - 100 Campus Drive 100 Campus Drive, 07932 370,681 1989
Koll Corporate Center 25 Vreeland Road - Building B, 07932 115,554 1984

Worth noting among recent office completions on the Florham Park market is Benz Jean Enterprise, which is currently the largest new office development in the city, at 1,100 square feet.

Data provided by Commercial Edge

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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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Florham Park 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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