Newark Office Space

Newark

Office Space Market Report

Number of Listings (last 90 days)
29
Median Rate ($/sqft/yr)
$31
Median Size (sqft)
6,970
As of: March 12, 2017

Newark Rates

The typical asking rate per listing is in the $30's per square foot per year. The Newark submarket is going through a an increase in rates. In the last 3 months, the median rate rose $3 per sqft per year. That's a 12% rise in rent.

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

Newark Listing Supply

In the last 90 days, 29 listings have been posted online, which means office spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 10% of the available space in the Newark 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 on the market, so finding a space for a small business might be tough.

Even though the median size is 6,970 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are approximately 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