On average, listings lease in the $40's per square foot per year. The The Waterfront submarket is seeing a decline in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 4% decline in rent.
Compared to the rest of the Jersey City market, the The Waterfront submarket has less expensive rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 390 listings have come on the market, so you'll want to check back regularly for new listings. About 9% of the available space in the The Waterfront are subleases, so you will probably have to consider a longer term lease. 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 4,050 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are around 14 floors. Most buildings in this region were built in 1992 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Wholesale trade is the dominant industry in this region. Most of the folk of The Waterfront work from home. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in The Waterfront.
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