The typical asking rate per listing is in the $50's per square foot per year. The The Waterfront submarket is going through a a boost in rates. In the last 3 months, the median rate rose $6 per sqft per year. That's a 13% increase in rent.
Compared to the rest of the Jersey City market, the The Waterfront submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 19 listings have been posted online, which means leases most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 42% of the available leases in the The Waterfront 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.
Even though the median size is 34,810 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are approximately 14 stories. Most buildings in this market were built in 1992 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Wholesale trade is the dominant industry in this area. Most of the residents of The Waterfront work from home. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.