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Princeton Office Rent Price & Sales Report

2020 Office Space Rent & Sales

  • $33.02 2020 Avg. Asking Rent
  • 2.82% Y-o-Y Avg. Asking Rent Change
  • 20.95% 2020 Office Vacancy Rate

Princeton office price per square foot in 2020 was $33.02 on average. This marked a +2.82% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 20.95% across all asset classes combined.

Average Rent by Office Class

2020 Average Office Rent per Square Foot

  • Princeton Class A Office Space$34.40
  • Princeton Class B Office Space$29.16
  • New Jersey Class A Office Space$36.84
  • New Jersey Class B Office Space$26.76
  • New Jersey Class C Office Space$20.32

Princeton, NJ Office Asking Rents by Class

2020 Office Construction in Princeton, NJ

  • Princeton, 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 Princeton 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 Princeton
Office building Address SF Completed
8 Forrestal Road South 8 Forrestal Road South, 08540 43,400 2022
Carnegie Center - 804 Carnegie Center 804 Carnegie Center, 08540 130,000 2016
Roszel Square - 21 Roszel Road 21 Roszel Road, 08540 100,500 2015
Forrestal Professional Center 10 Forrestal Road South, 08540 40,000 2014
Carnegie Center - 300 Carnegie Center 300 Carnegie Center, 08540 88,274 2013
Princeton Medical Arts Pavilion 5 Plainsboro Road, 08536 137,900 2012
Bunn Drive Medical Arts Complex 800 Bunn Drive, 08540 30,000 2010
Carnegie Center - 701 Carnegie Center 701 Carnegie Center, 08540 120,000 2009
Carnegie Center - 902 Carnegie Center 902 Carnegie Center, 08540 135,399 2007
Princeton Corporate Campus at Princeton Forrestal Center - 1100 Campus Road 1100 Campus Road, 08540 162,250 2006

Worth noting among recent office completions on the Princeton market is 8 Forrestal Road South, which is currently the largest new office development in the city, at 43,400 square feet.

Data provided by Commercial Edge

See reports for nearby markets

  • New York City Office Rent Price
  • Brooklyn Office Rent Price
  • Philadelphia Office Rent Price
  • King of Prussia Office Rent Price
  • Jersey City Office Rent Price
  • Hamilton Office Rent Price
  • Conshohocken Office Rent Price
  • Trenton 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 Princeton 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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