Northern New Jersey Market Report
Northern New Jersey commercial real estate market report — 21,752,700 SF tracked across 55 buildings, 88 sale comparables, 310 lease comparables and 50 loans with 19 maturing before 2029.
Fundamentals by property type
| Property type | Buildings | Inventory SF | Vacancy | Avg asking rent | Rent YoY | Avg cap rate | Avg $/SF |
|---|---|---|---|---|---|---|---|
| Industrial | 23 | 14,923,200 | 31.6% | $9.11 | 5.0% | 7.84% | $523 |
| Office | 13 | 3,151,500 | 33.4% | $34.25 | 5.1% | 6.39% | $221 |
| Multi-Family | 5 | 2,358,500 | 7.3% | $26.09 | 2.6% | 5.24% | $184 |
| Flex | 8 | 686,900 | 10.1% | $15.27 | 5.3% | 5.76% | $366 |
| Retail | 4 | 450,100 | 4.3% | $43.03 | 5.0% | 7.64% | $359 |
Recent sale comparables
| Date | Property | Type | Price | $/SF | Cap | Buyer |
|---|---|---|---|---|---|---|
| 2026-06-17 | 1765 Mulberry St | Office | $54.62M | $356.07 | 5.30% | Yellowstone Property Fund |
| 2026-05-29 | 2369 Raymond Blvd | Industrial | $29.18M | $114.52 | 5.26% | Silverline Holdings |
| 2026-05-19 | 2369 Raymond Blvd | Industrial | $17.02M | $66.79 | 4.78% | Quarry Point Partners |
| 2026-05-18 | 3196 Mulberry St | Industrial | $142.1M | $139.89 | 4.73% | Lone Star Property Trust |
| 2026-05-08 | 2072 Mulberry St | Industrial | $16.69M | $76.23 | 7.47% | Zenith Real Estate |
| 2026-05-01 | 3085 Meadowlands Pkwy | Industrial | $161.88M | $172.60 | 4.56% | Pemberton Capital |
| 2026-03-08 | 287 Riverfront Plz | Retail | $76.76M | $488.61 | 4.93% | Pemberton Capital |
| 2026-02-18 | 439 Raymond Blvd | Industrial | $134.79M | $121.78 | 8.06% | Uplands Realty |
| 2026-02-17 | 476 Riverfront Plz | Office | $54.27M | $236.91 | 5.16% | Uplands Realty |
| 2025-11-17 | 1588 Harborside | Industrial | $209.59M | $175.74 | 4.77% | Bellhaven Properties |
| 2025-11-07 | 342 Doremus Ave | Industrial | $5.45M | $59.35 | 4.73% | Vantage Point Capital |
| 2025-09-25 | 482 McCarter Hwy | Multi-Family | $259.1M | $493.91 | 7.80% | Uplands Realty |
Debt and rollover exposure
50 loans totalling $2.44B are tracked against Northern New Jersey assets. 19 of them, representing $795.11M, mature before January 2029. Separately, 188 tracked leases covering 3,463,160 SF expire in the same window.
Weighted average coupon on tracked Northern New Jersey debt is 5.71% with average loan-to-value of 60.8%. See how to read a maturity schedule for the refinancing-gap method.
55 commercial properties are tracked in Northern New Jersey, representing 21,752,700 SF of rentable building area, of which 6,039,300 SF is currently marketed as available.
Asking rents average $21.92 per square foot per year, the median marketed suite is 46,500 SF, and listings have been on market a median of 501 days.
The stock splits 19 Class A, 22 Class B, 14 Class C, with construction dates from 1911 to 2024 (median 1969).
The most concentrated submarkets are Port Newark / Elizabeth (14), Newark CBD (13), Meadowlands (11), Hoboken (7), Jersey City Waterfront (6).
Methodology
Fundamentals are computed from RealStarGlobal's tracked inventory for Northern New Jersey and re-cut on each build (2026-08-26). Sale and lease comparables are the tracked transaction set for assets in this market; loan records derive from recorded mortgages and tracked lender reporting. Property-level inventory in this demonstration dataset is RealStarGlobal sample data — live market activity, deal flow and news come from the Acquirepad CRE intelligence feed. Registry and GIS provenance per jurisdiction is set out in the data sourcing plan. Definitions follow the conventions described in why providers disagree about submarkets.