On average, listings lease in the $50's per square foot per year. The Historic Downtown submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $22 per sqft per year. That's a 68% rise in rent.
Compared to the rest of the Jersey City market, the Historic Downtown submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 1 listings have been posted online, which means spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 200% of the office spaces in the Historic Downtown 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 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 2,080 sqft. Most buildings in this area are approximately 4 stories. Most buildings in this region were built in 1980 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Historic Downtown residents. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.