On average, listings lease in the $20's per square foot per year. The Historic Downtown region is experiencing a decrease in rates. In the last 3 months, the median rate fell $21 per sqft per year. That's a 44% decline in rent.
Compared to the rest of the Jersey City market, the Historic Downtown submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 1 listings have been made available, which means new availabilities might be going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,800 sqft. Most buildings in this region are around 19 stories. Most buildings in this region were built in 1980 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Historic Downtown folk. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.