Most listings are in the $20's per square foot per year. The Newark Central Business District submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $16 per sqft per year. That's a 36% decline in rent.
Compared to the rest of the Newark Metro market, the Newark Central Business District region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 52 listings have been posted online, so you'll want to check back regularly for new listings. About 2% of the available space in the Newark Central Business District are subleases, so you will probably have to consider a longer term lease. 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 24,690 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are close to 15 floors. Most buildings in this market were built in 1967 and are Class A.
Finance and insurance are the dominant industries in this area. Most of the folk of Newark Central Business District work from home. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.