On average, listings lease in the $50's per square foot per year. The Colgate Center submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 7% decline in rent.
Compared to the rest of the Jersey City market, the Colgate Center region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 13 listings have been made available, which means new listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 15% of the office spaces in the Colgate Center 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 posted, so finding a space for a small business might be tough.
Even though the median size is 37,390 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are close to 15 stories. Most buildings in this region were built in 1988 and are Class A.
Wholesale trade is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Colgate Center folk. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.