On average, listings lease in the $30's per square foot per year. The Journal Square region is experiencing a a boost in rates. In the last 3 months, the median rate increased $32 per sqft per year.
Compared to the rest of the Jersey City market, the Journal Square submarket has lower rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 18 listings have been listed, which means new availabilities might be leasing quickly. You'll want to be prepared to make an offer immediately. About 44% of the listings in the Journal Square 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 4,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are close to 3 stories. Most buildings in this region were built in 1985 and are Class B.
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 folk. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.