On average, listings lease in the $50's per square foot per year. The Historic Downtown region is experiencing a a rise in rates. In the last 3 months, the median rate increased $22 per sqft per year. That's a 68% rise in rent.
Compared to the rest of the Jersey City market, the Historic Downtown region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 1 listings have been listed, which means leases are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 100% of the office spaces in the Historic Downtown are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,000 sqft. Most buildings in this region are close to 4 floors. Most buildings in this market 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 market. Commute by public transit is the most popular way to get to work amongst Historic Downtown folk. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.