New Jersey Office Market Report
By PropZone Research · Data through Q1 2026 · Aggregated from Cushman & Wakefield, Colliers
Quarterly office market indicators for New Jersey, aggregated by PropZone from Cushman & Wakefield, Colliers. As of Q1 2026, average asking rent was $17.64/SF with a 8.7% vacancy rate.
Projected current office pricing — New Jersey
indicative confidenceModeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for New Jersey office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q1 2026 asking-rent data (benchmark cap rate 6.6%–8.6%, asking rent trend-adjusted to today). Assumes ~91% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $17.64/SF | 8.7% | 0K SF | — | Cushman & Wakefield |
| Q1 2025 | $33.00/SF | — | 2K SF | — | Cushman & Wakefield |
| Q1 2025 | — | 20.5% | 449K SF | — | Colliers |
| Q3 2019 | $20.40/SF | 11.0% | 35K SF | — | Colliers |
Frequently asked questions
- What is the average asking rent for office space in New Jersey?
- As of Q1 2026, the average asking rent for office space in New Jersey was $17.64/SF, per Cushman & Wakefield.
- What is the office vacancy rate in New Jersey?
- The office vacancy rate in New Jersey was 8.7% as of Q1 2026 (Cushman & Wakefield).
- Where does PropZone's New Jersey market data come from?
- This report aggregates quarterly office market data for New Jersey from Cushman & Wakefield, Colliers.