On average, listings lease in the $20's per square foot per year. The Downtown Elizabeth submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $25 per sqft per year.
In the last 90 days, 5 listings have been listed, which means new listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. 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 4,000 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are close to 3 floors. Most buildings in this market were built in 1971 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this market. Most of the occupants of Downtown Elizabeth work from home. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.