Newark Retail

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 5, 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