Newark Office Space

One Gateway Center Listing
Newark Central Business District, Newark, NJ
One Gateway Center has received a NJ Smart Workplaces Gold designation.(6/2007) One Gateway Center is the epicenter of business in Newark and its strategic location near mass transit is ideal for commuters. New Jersey's largest mixed-use project, Gateway Center provides a self-contained, institutional-quality, corporate office environment that is unique to the State. The Center is comprised of 4 interconnected office buildings totalling 2.3 million square feet, a 250 room hotel with conference and meeting rooms and over 80,000 sf of retail space. One Gateway Center is strategically located directly across from Newark Penn Station with Amtrak service to NYC, Washington, D.C. and Boston. The 250-room Hilton Gateway is connected to Penn Station - the confluence of the New Jersey Transit, Amtrak and PATH rail lines - by a pedestrian skywalk. Each of the buildings have a fully monitored, electronic, high-tech security system which allows continual monitoring of Gateway Center, its parking garages, common areas, elevators and streets. The Center's 3 parking garages, which hold 2,500 cars are for the use of the Gateway tenants only and are connected via pedestrian bridges to the office buildings. Each building in Gateway Center is completely fire-proofed, with a full sprinkler and smoke detector system. A variable air volume heating, ventilation and air conditioning system affords control of comfort in all kinds of weather. Advantageous business location serving all of North Jersey and the New York metro area with unique connections to: All interstate highways Entertainment, sports and business centers Federal and NJ courts University community Newark International airport Amtrak service, Metroliner DC/NYC/Boston NJ Transit to Penn Station NYC Meadowlands Sports Complex New Jersey Performing Arts Center Newark Bears Baseball Stadium Newark Museum Famous Portuguese and Spanish restaurants Hendricks Field, Francis Byrne, and Weequahic Park golf courses Covered parking is negotiable and allocated at 1/1000 sf. Iron Bound District, Downtown Newark, Next to Newark Penn Station, Central Transport Location This building was awarded the BOMA 360 designation in Q2 2015.

Newark

Office Space Market Report

Number of Listings (last 90 days)
36
Median Rate ($/sqft/yr)
$28
Median Size (sqft)
24,690
As of: December 3, 2016

Newark Rates

The typical asking rate per listing is in the $20's per square foot per year. The Newark region is going through a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 5% decrease in rent.

Compared to the rest of the Newark Metro market, the Newark submarket has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.

Newark Listing Supply

In the last 90 days, 36 listings have been listed, which means leases are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 3% of the office spaces in the Newark are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 24,690 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are close to 5 stories. Most buildings in this region were built in 1971 and are Class A.

Newark Community

Market Report

Trends and status of the commercial real estate market in Newark.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Newark.
Research