On average, listings lease in the $30's per square foot per year. The Journal Square submarket is experiencing a a boost in rates. In the last 3 months, the median rate went up $4 per sqft per year. That's a 10% increase in rent.
Compared to the rest of the Jersey City market, the Journal Square submarket has less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 10 listings have been listed, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. 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 36,910 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are around 3 stories. Most buildings in this area were built in 1974.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Commute by walking is the most popular way to get to work amongst Journal Square folk. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.