The typical asking rate per listing is in the $20's per square foot per year. The Newark region is experiencing a decline in rates. In the last 3 months, the median rate fell $16 per sqft per year. That's a 36% decrease in rent.
Compared to the rest of the Newark Metro market, the Newark region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 53 listings have been made available, so you'll want to check back regularly for new listings. About 2% of the listings in the Newark are subleases, so you will probably have to focus your search on direct office leases. 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 24,690 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are approximately 5 floors. Most buildings in this area were built in 1971 and are Class A.