2023 Office Space Rent & Sales
- $26.66 2023 Avg. Asking Rent
- 22.73% 2023 Office Vacancy Rate
Montvale office price per square foot in 2023 was $26.66 on average. The local office market recorded an average vacancy rate of 22.73% 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
Montvale, NJ Office Asking Rents by Class
Office Spaces for Rent in New Jersey
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Coworking Spaces in New Jersey
- New York City Coworking Space
- Manhattan Coworking Space
- Washington Coworking Space
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- Bethesda Coworking Space
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- Richmond Coworking Space
- Asheville Coworking Space
2023 Office Construction in Montvale, NJ
| Office building | Address | SF | Completed |
|---|---|---|---|
| 5 Paragon Drive | 5 Paragon Drive, 07645 | 119,089 | 1984 |
| 50 Chestnut Ridge Road | 50 Chestnut Ridge Road, 07645 | 104,853 | 1982 |
| 135 Chestnut Ridge Road | 135 Chestnut Ridge Road, 07645 | 66,150 | 1981 |
| 102 Chestnut Ridge Road | 102 Chestnut Ridge Road, 07645 | 50,000 | 1979 |
| 155 Chestnut Ridge Road | 155 Chestnut Ridge Road, 07645 | 105,000 | 1975 |
| 85 Chestnut Ridge Road | 85 Chestnut Ridge Road, 07645 | 62,250 | 1966 |
Worth noting among recent office completions on the Montvale market is 5 Paragon Drive, which is currently the largest new office development in the city, at 119,089 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 Montvale 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.