The typical asking rate per listing is in the $50's per square foot per year. The Colgate Center submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $4 per sqft per year. That's a 8% increase in rent.
Compared to the rest of the Jersey City market, the Colgate Center region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 13 listings have been listed, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 62% of the available leases in the Colgate Center are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 14,520 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this region are around 15 stories. Most buildings in this region were built in 1992 and are Class A.
Wholesale trade is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Colgate Center residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.