2023 Office Space Rent & Sales
- $33.85 2023 Avg. Asking Rent
- 1.12% Y-o-Y Avg. Asking Rent Change
- 12.12% 2023 Office Vacancy Rate
Paramus office price per square foot in 2023 was $33.85 on average. This marked a +1.12% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 12.12% across all asset classes combined.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Paramus Class A & A+ Office Space$38.88
- Paramus Class B Office Space$30.82
- Paramus Class C Office Space$22.00
- 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
Paramus, NJ Office Asking Rents by Class
Average office rent in Paramus rested at $33.85 per square foot in 2023. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Paramus averaged $38.88 per square foot. Across all submarkets, class B office space recorded an average asking rent of $30.82 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $22.00 per square foot, on average. Comparably, statewide New Jersey average office rents by class in 2023 were: $39.79 per square foot for class A office space; $27.52 per square foot for class B office space; $33.47 per square foot for class C office space.
Coworking Spaces in New Jersey
- New York City Coworking Space
- Manhattan Coworking Space
- Washington Coworking Space
- Brooklyn Coworking Space
- Boston Coworking Space
- Charlotte Coworking Space
- Philadelphia Coworking Space
- Columbus Coworking Space
- Cincinnati Coworking Space
- Raleigh Coworking Space
- Pittsburgh Coworking Space
- Alexandria Coworking Space
- Durham Coworking Space
- Cambridge Coworking Space
- Jersey City Coworking Space
- Queens Coworking Space
- Cleveland Coworking Space
- Asheville Coworking Space
- Bethesda Coworking Space
- Richmond Coworking Space
Office building | Address | SF | Completed |
---|---|---|---|
15 East Midland Avenue | 15 East Midland Avenue, 07652 | 260,382 | 2000 |
10 Forest Avenue | 10 Forest Avenue, 07652 | 90,660 | 2000 |
1 Woodland Ave | 1 Woodland Ave, 07652 | 2,000 | 2000 |
461 From Road | 461 From Road, 07652 | 265,772 | 1988 |
Country Club Plaza | 115 West Century Road, 07652 | 239,017 | 1988 |
Mack Centre VII | 15 East Midland Avenue, 07652 | 250,000 | 1987 |
The Atrium | 80 Route 4 East, 07652 | 168,151 | 1986 |
61 South Paramus Road | 61 South Paramus Road, 07652 | 287,704 | 1984 |
45 Eisenhower Drive | 45 Eisenhower Drive, 07652 | 175,000 | 1984 |
Paramus Corporate Center | 95 Route 17 North, 07652 | 115,516 | 1983 |
Worth noting among recent office completions on the Paramus market is 15 East Midland Avenue, which is currently the largest new office development in the city, at 260,382 square feet.
See reports for other markets
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- Cherry Hill Office Rent Price
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- Manhattan Office Rent Price
- San Diego Office Rent Price
- Seattle 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 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 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.