The typical asking rate per listing is in the $30's per square foot per year. The Journal Square submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $4 per sqft per year. That's a 10% increase in rent.
Compared to the rest of the Jersey City market, the Journal Square submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 10 listings have been made available, which means leases are probably going fast. You'll want to be prepared to make an offer immediately. 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 36,910 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are close to 3 floors. Most buildings in this region were built in 1974.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this market. Commute by walking is the most popular way to get to work amongst Journal Square residents. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.