Edison, NJ - Office Market Overview
Edison neighbors the Dayton, Carteret, and Perth Amboy commercial real estate markets. With a population of just over 100,000 people, Edison is also part of the much larger New York metro area, which is home to over 20 million residents. Edison has been one of the fastest-growing municipalities in New Jersey, with a directly proportional rise in demand for office space in the area.
As of mid-2017, the Edison office market encompasses just over 3.2 million square feet of existing office space in properties larger than 50,000 square feet. The city is home to a wide variety of business and industry that help to maintain consistent demand for commercial real estate in Edison, NJ.
Edison, NJ - Office Inventory Description
Named after the inventor Thomas Edison, the City of Edison is home to one of the first research laboratories in the U.S. that pursued practical, commercial applications of scientific research. Today Edison is home to a deep mix of businesses, including those in the advanced healthcare, financial services, and distribution sectors. Because of this, the demand for Class A office space in Edison remains robust. Over 50% of the office space in Edison is Class A or A+, while Class B office space adds another 1.4 million square feet of space to the Edison office inventory.
Some of the strongest demand for Class A office space in Edison comes from investment-grade office buildings, such as the Metropark Corporate Campus - 379 Thornall Street, the Raritan Plaza I, and Edison Square West on 2035 Lincoln Highway.
Edison, NJ Commercial Inventory Breakdown
Total: 3,326,107 SF
By square footage range:
- 50k to 100k SF: 827,457 SF / 24.88% of total office
- 100k to 500k SF: 2,498,650 SF / 75.12% of total office
- Class A: 1,674,109 SF / 50.33% of total office
- Class B: 1,526,998 SF / 45.91% of total office
- Class C: 125,000 SF / 3.76% of total office
Edison, NJ - Green Office Space
The demand for green office space in Edison and the State of New Jersey has grown so much that the state now ranks 25th among the top office markets in the country for the percentage of green, Energy Star, and LEED certified office space. One example of a LEED-certified office building in Edison is the 333 Thornall Street property. Constructed in 1984, this office building contributes over 196,000 square feet of LEED Silver-certified green office space to the Edison real estate market.
Across the top 30 office markets in the country, the percentage of green office space has increased by about 33% over the past 12 years. In 2005, less than 5% of the total office buildings in these markets were certified as green, LEED, or Energy Star-compliant. Now, that share has grown to 38% across these top 30 markets, according to the 2017 National Green Building Adoption Index.
Edison, NJ's Top Office-Using Sectors
The Edison office market is driven in large part by the top office-using sectors of transportation & distribution, manufacturing, healthcare, and large corporate office use.
- Transportation & Distribution – Colavita, FedEx, UPS, and Newegg are just a few companies that help to generate demand for commercial real estate in Edison, New Jersey.
- Manufacturing – Novo Nordisk, Silverline Building Products, Colgate-Palmolive, and International Technidyne Corporation are among the major employers in Edison.
- Healthcare – Institutions such as the J.F.K. Medical Center, Raritan Bay Medical Center, and Bristol-Myers Squibb create demand for white-collar office space in Edison.
- Corporate Office – Zylog Systems, Boxed, and Bare Necessities are headquartered in the city and help to create demand for white-collar office employment in Edison.
- Total Population101,173
- Male Population(48.8 %) 49,410
- Female Population(51.2 %) 51,763
- Median Age38.70
- Average Household Income$114,310
- Median Household Income$87,688
- Median Income Under 25$86,250
- Median Income 25-44$94,437
- Median Income 45-64$94,381
- Median Income Over 65$53,082