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Paramus Office Rent Price & Sales Report

2020 Office Space Rent & Sales

  • $31.53 2020 Avg. Asking Rent
  • -1.95% Y-o-Y Avg. Asking Rent Change
  • 14.23% 2020 Office Vacancy Rate

Paramus office price per square foot in 2020 was $31.53 on average. This marked a -1.95% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 14.23% across all asset classes combined.

Average Rent by Office Class

2020 Average Office Rent per Square Foot

  • Paramus Class A Office Space$35.48
  • Paramus Class B Office Space$29.55
  • New Jersey Class A Office Space$36.84
  • New Jersey Class B Office Space$26.76
  • New Jersey Class C Office Space$20.32

Paramus, NJ Office Asking Rents by Class

2020 Office Construction in Paramus, NJ

  • Paramus, 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 Paramus office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.

Largest Office Properties Recently Completed in Paramus
Office building Address SF Completed
Mack-Cali Centre II 650 From Road, 07652 370,000 2000
461 From Road 461 From Road, 07652 260,962 2000
15 East Midland Avenue 15 East Midland Avenue, 07652 260,382 2000
Mack-Cali Centre III 140 East Ridgewood Avenue, 07652 239,680 2000
The Valley Health System - Robert and Audrey Luckow Pavilion 1 Valley Health Plaza, 07652 110,226 2000
4, 6 & 10 Forest Avenue 6 Forest Avenue, 07652 90,660 2000
80 West Century Road 80 West Century Road, 07652 70,000 2000
240 Frisch Court 240 Frisch Court, 07652 66,000 2000
37 West Century Road 37 West Century Road, 07652 64,058 2000
One Sears Drive 1 Sears Drive, 07652 42,579 2000

Worth noting among recent office completions on the Paramus market is Mack-Cali Centre II, which is currently the largest new office development in the city, at 370,000 square feet.

Data provided by Commercial Edge

See reports for nearby markets

  • New York City Office Rent Price
  • Brooklyn Office Rent Price
  • Stamford Office Rent Price
  • White Plains Office Rent Price
  • Jersey City Office Rent Price
  • Hackensack Office Rent Price
  • Yonkers Office Rent Price
  • Fair Lawn Office Rent Price

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 Paramus 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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