Princeton Office Rent Price & Sales Report

Highlights

  • The average rent for office space in Princeton is $36.56 per square foot, 0.37% lower compared to the previous year.
  • The market’s vacancy rate stands at 23.18%, higher than the state average of New Jersey, which is 17.23%.
  • Renting Class A/A+ office space here costs $37.83 per square foot, while Class B averages $31.66 and Class C stands at $27.76.

2025 Office Space Rent & Sales

  • $36.56 2025 Avg. Asking Rent
  • -0.37% Y-o-Y Avg. Asking Rent Change
  • 23.18% 2025 Office Vacancy Rate

What is the average asking rent price for office space in Princeton?

Average asking rents for office space here stand at $36.56 per square foot. The local office market recorded an average vacancy rate of 23.18% in 2025, unchanged from 23.18% in 2024.

Princeton, NJ Office Asking Rents by Class

What is the average office rent per square foot by property class in Princeton?

  • Avg. Asking Rent Class A & A+$37.83
  • Avg. Asking Rent Class B$31.66
  • Avg. Asking Rent Class C$27.76

The average asking rent for Class A and A+ office space stood at $37.83 per square foot, indicating the best — and most expensive — that the market has to offer.
Class B space in Princeton averaged $31.66 per square foot, while the average for Class C space was $27.76 per square foot.

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.

Princeton, NJ Office Indicators by Submarket

In 2025, the submarket with the lowest office vacancy rate in Princeton was Trenton at 19.11%. Meanwhile, the highest office vacancy rate in the market was 24.43%, recorded in Princeton.
Submarket Asking Rents Vacancy Rates
Princeton $36.56 24.43%
Trenton $30.31 19.11%
Data provided by Yardi Research

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2025 Office Construction in Princeton, NJ

  • Princeton, NJ Total SF completed in 2025 52,056

How much office space was built in Princeton in 2025?

52,056 square feet of new office space was delivered across the market in the previous year. New construction included 1 properties, with an average new property size of 52,056 square feet.

What are the largest recent office completions in Princeton?

The largest recent office completion here is University Square at 331,872 square feet, completed in 2007. The next largest completions are Forrestal Greene Corporate Park and 100 College Road West.

Office building Address SF Completed
8 Forrestal Road South 8 Forrestal Road South, 08540 43,400 2022
Forrestal Professional Center 10 Forrestal Road South, 08540 40,000 2014
Bunn Drive Medical Arts Complex 800 Bunn Drive, 08540 30,000 2010
University Square 1 University Square Drive, 08540 331,872 2007
902 Carnegie Center 902 Carnegie Center, 08540 135,399 2007
Forrestal Greene Corporate Park 100 College Road West, 08536 154,101 2000
100 College Road West 100 College Road West, 08540 154,101 2000
Princeton Plaza - Building 1 & 2 731 Alexander Road, 08540 100,000 2000
731 Alexander Road 731 Alexander Road, 08540 100,000 2000
700 Alexander Park 700 Alexander Park Drive, 08540 71,934 2000
Data provided by Yardi Research

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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.