Newark Sublease

Newark

Office Space Market Report

Number of Listings (last 90 days)
29
Median Rate ($/sqft/yr)
$30
Median Size (sqft)
4,400
As of: June 26, 2017

Newark Rates

Most listings are in the $20's per square foot per year. The Newark submarket is going through a a boost in rates. In the last 3 months, the median rate went up $30 per sqft per year.

Compared to the rest of the Essex County market, the Newark submarket has greater rates, and you'll need to pay a premium to be in this hot submarket.

Newark Listing Supply

In the last 90 days, 29 listings have been posted online, which means new listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 76% of the available leases in the Newark 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 on the market, so finding a space for a small business might be tough.

Even though the median size is 18,440 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are around 5 stories. Most buildings in this area were built in 1971 and are Class A.

Newark Community

Market Report

Trends and status of the commercial real estate market in Newark.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Newark.
Research