On average, listings lease in the $40's per square foot per year. The The Waterfront region is seeing a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 8% decline in rent.
Compared to the rest of the Jersey City market, the The Waterfront region has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 20 listings have been made available, which means spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 165% of the available space 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 available, so finding a space for a small business might be tough.
Even though the median size is 5,200 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are around 14 stories. Most buildings in this area 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 market. Most of the folk of The Waterfront work from home. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.