The typical asking rate per listing is in the $40'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 increased $9 per sqft per year. That's a 27% rise in rent.
Compared to the rest of the East Bay market, the Newark region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 24 listings have been posted online, which means office spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 4% of the office spaces in the Newark are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 180 sqft. Most properties in this area are around 1 floors. Most buildings in this area were built in 1996 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Company management is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Newark occupants. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.