Newark Industrial

Newark

Office Space Market Report

Number of Listings (last 90 days)
12
Median Rate ($/sqft/yr)
$31
Median Size (sqft)
7,000
As of: January 15, 2017

Newark Rates

The typical asking rate per listing is in the $30's per square foot per year. The Newark submarket is going through a a rise in rates. In the last 3 months, the median rate rose $3 per sqft per year. That's a 12% increase in rent.

Compared to the rest of the Newark Metro market, the Newark submarket has higher rates, and you'll need to pay a premium to be in this hot region.

Newark Listing Supply

In the last 90 days, 14 listings have been made available, which means new listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 21% of the available leases in the Newark are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.

Even though the median size is 9,350 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are approximately 5 stories. Most buildings in this area were built in 1971 and are Class A.

Newark Community

Market Report

Trends and status of the commercial real estate market in Newark.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Newark.
Research