On average, listings lease in the $10's per square foot per year. The Franklin Lakes region is going through a an increase in rates. In the last 3 months, the median rate increased $15 per sqft per year.
In the last 90 days, 23 listings have been listed, which means spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 22% of the available leases in the Franklin Lakes are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 30,420 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area were built in 1983 and are Class A.
Real time and historical data on commercial real estate listings in Franklin Lakes.
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