On average, listings lease in the $40's per square foot per year. The The Waterfront region is going through a an increase in rates. In the last 3 months, the median rate went up $48 per sqft per year.
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 undervalued region.
In the last 90 days, 20 listings have come on the market, which means leases most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 130% of the available leases in the The Waterfront are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 5,200 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are close to 14 stories. Most buildings in this region were built in 1992 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Wholesale trade is the dominant industry in this area. Most of the residents 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.