The typical asking rate per listing is in the $40's per square foot per year. The Colgate Center region is seeing a decline in rates. In the last 3 months, the median rate decreased $10 per sqft per year. That's a 18% decrease in rent.
Compared to the rest of the Jersey City market, the Colgate Center region has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 13 listings have come on the market, which means new availabilities most likley are going fast. You'll want to be prepared to make an offer immediately. About 146% of the office spaces in the Colgate Center are subleases, so you might be able to find a shorter term or below market rent. 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 4,270 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are approximately 15 stories. Most buildings in this region were built in 1992 and are Class A.
Wholesale trade is the dominant industry in this region. 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.