2023 Office Space Rent & Sales
- $28.52 2023 Avg. Asking Rent
- 20.68% 2023 Office Vacancy Rate
Florham Park office price per square foot in 2023 was $28.52 on average. The local office market recorded an average vacancy rate of 20.68% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- New Jersey Class A & A+ Office Space$39.79
- New Jersey Class B Office Space$27.52
- New Jersey Class C Office Space$33.47
Florham Park, NJ Office Asking Rents by Class
2023 Office Vacancy Rates in Florham Park
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Florham Park | $30.41 | 24.49% |
| Hanover | $23.48 | 20.67% |
Office Spaces for Rent in New Jersey
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Coworking Spaces in New Jersey
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2023 Office Construction in Florham Park, NJ
| Office building | Address | SF | Completed |
|---|---|---|---|
| Benz Jean Enterprise | 30 Vreeland Rd, 07932 | 1,100 | 2024 |
| Park Place | 200 Park Avenue, 07932 | 351,955 | 2001 |
| 180 Park Avenue | 180 Park Avenue, 07932 | 221,706 | 2001 |
| Park Avenue at Morris County - 500 Campus Drive | 500 Campus Drive, 07932 | 180,752 | 1999 |
| Park Avenue at Morris County - 300 Campus Drive | 300 Campus Drive, 07932 | 102,801 | 1999 |
| Park Avenue at Morris County - 600 Campus Drive | 600 Campus Drive, 07932 | 99,401 | 1998 |
| Park Avenue at Morris County - 200 Campus Drive | 200 Campus Drive, 07932 | 189,236 | 1992 |
| Park Avenue at Morris County - 100 Campus Drive | 100 Campus Drive, 07932 | 370,681 | 1989 |
| Koll Corporate Center | 25 Vreeland Road - Building B, 07932 | 115,554 | 1984 |
| Koll Corporate Center | 25 Vreeland Road - Building A, 07932 | 112,068 | 1983 |
Worth noting among recent office completions on the Florham Park market is Benz Jean Enterprise, which is currently the largest new office development in the city, at 1,100 square feet.
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Florham Park commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.