ACREX · CALDWELL, NJ
Lease Your Commercial Property in Northern New Jersey
Asking rents by submarket, what a lease is worth after fees, and how to find a tenant.
This page helps owners of warehouses, flex buildings, offices and storefronts in northern New Jersey price their space, see what a lease is worth after fees, and decide how to find a tenant.
What space rents for, by submarket
Average asking rents and vacancy from Newmark’s 3Q 2026 northern NJ industrial and office reports. Industrial rents are NNN (tenant pays taxes, insurance and CAM on top); office rents are full service (included). Asking rents are not signed rents.
Essex — Industrial (NNN, vacancy): Newark $18.37, 4.7%; Route 280/Suburban Essex $15.95, 5.3%; Office (full service, vacancy): Newark $29.80, 19.7%; Essex West/I-280 $28.04, 18.8%; Short Hills/Route 24 $43.16, 9.7%
Bergen — Industrial (NNN, vacancy): Bergen Central $16.58, 7.1%; Bergen Northeast $13.77, 1.9%; Bergen Northwest $15.77, 4.7%; Meadowlands $17.78, 5.6%; Office (full service, vacancy): Bergen Central $30.85, 12.0%; Bergen East $29.15, 12.0%; Bergen North $26.29, 18.9%; Meadowlands $30.88, 14.1%
Hudson — Industrial (NNN, vacancy): Hudson Waterfront $19.50, 8.4%; Meadowlands $17.78, 5.6%; Office (full service, vacancy): Hudson Waterfront $46.34, 25.6%
Morris — Industrial (NNN, vacancy): Morris East $16.94, 6.8%; Morris West $17.14, 6.6%; Office (full service, vacancy): Morristown Area $30.34, 14.6%; Parsippany/Route 10 $29.06, 20.3%; Morris West/I-80 $25.31, 24.3%
Passaic — Industrial (NNN, vacancy): Paterson/Passaic $14.17, 5.7%; Route 46/23 Corridor $14.02, 4.1%; Office (full service, vacancy): Route 46/Wayne $24.45, 9.2%
Union — Industrial (NNN, vacancy): Union Central $14.77, 3.6%; Linden/Elizabeth $17.38, 6.3%; Office (full service, vacancy): Union Area $23.87, 8.8% (Newmark Central NJ table)
Northern NJ averages: industrial $16.36/SF NNN, 5.7% vacancy; office $33.12/SF full service, 18.0% vacancy. Retail: northern NJ vacancy 3.3% and average asking rent $27.95/SF (Matthews, Q3 2026). Updated November 2, 2026.
How long will it take to lease?
Under 5% vacancy: tight. Good space leases quickly; price at market.
5–10%: balanced. Expect normal marketing time and some concessions.
Over 10%: a tenant’s market. Expect longer marketing, free rent and improvement allowances.
The bands are AcreX’s labels, not an industry standard.
What your lease is worth after fees
Example: 10,000 SF of warehouse space at the $16.36 northern NJ average, NNN, 5-year lease with 3% yearly increases = $868,575 of total base rent. AcreX’s fee at 5% = $43,429, half of it to the tenant’s broker if one is involved. Under NNN the tenant also pays taxes, insurance and CAM; under full service those come out of your rent.
Tenant demand near your property
New apartments nearby mean customers for retail and services. Check approvals within a mile of your building on the NJ development pipeline map; every project links to its board record.
Finding a tenant: what works
A sign on the building and a listing on LoopNet or Crexi. Owners can do this themselves; LoopNet is a paid listing site.
Co-broker outreach: most office and industrial tenants use a tenant-rep broker. AcreX offers tenant brokers 50% of the leasing fee.
Direct outreach to nearby businesses that are outgrowing their space, and to users in the same trade.
Screening: financials, credit, a guaranty or security deposit; the lease drafted by your attorney.
What AcreX charges to lease your space
AcreX leasing fee: 5% of total base rent for years 1–5 and 2.5% for years 6 and later; on space above 50,000 SF, 4% and 2% on that part only. Minimum $3,500 or one month’s base rent, whichever is less. Renewals at half rate. Split 50/50 with the tenant’s broker. In New Jersey commissions are negotiable. Full schedule: AcreX fees and commission calculator.
No upfront fees.
Free written opinion of value or rent within 5 business days. It is a broker’s opinion, not an appraisal.
Reply within 2 business hours.
Jonathan Libock, principal broker, leads every listing.
Weekly owner report.
6-month listing agreement; cancel on 30 days’ notice after day 90.
By property type: lease your warehouse · industrial outdoor storage · county landlord representation · property management · free rent and value estimate.
Questions owners ask
How do I lease my commercial property in NJ?
Price the space from current asking rents in your submarket, decide NNN or gross, prepare the space, then market it to tenants and their brokers. A listing that offers tenant brokers a share of the fee gets shown more. Screen financials, and have your attorney draft the lease.
How much should I lease my commercial property for?
Start from your submarket’s average asking rent (table above, Newmark 3Q 2026) and adjust for size, condition, clear height or finish, parking and location. Asking rents are not signed rents; ask for a written rent opinion.
How long does it take to lease commercial space in NJ?
It depends on vacancy. Northern NJ industrial vacancy is 5.7% and office 18.0% (Newmark 3Q 2026), so office space usually takes longer and needs more concessions.
Who pays the broker on a commercial lease?
Usually the landlord, as a percentage of total base rent over the term, split with the tenant’s broker when there is one. In New Jersey commissions are negotiable.
Do I need a broker or can I list on LoopNet myself?
You can list yourself. LoopNet is a paid listing site, not a tenant finder; most office and industrial tenants use a tenant-rep broker, who looks for listings that offer a co-broke fee.
About the broker
Jonathan Libock is the founder and principal broker of AcreX Commercial Real Estate in Caldwell, NJ. He has a decade of experience in commercial real estate, including time at DR Properties, a New York City development brokerage. He specializes in industrial and multifamily land development and also works on development sites in Southeast Florida. Licensed real estate broker in New Jersey (#1757237) and Florida (#BK3462244). AcreX Realty LLC, Licensed Real Estate Broker. Licensure does not imply endorsement.
AcreX Realty LLC is a licensed NJ commercial real estate broker with published fees, at 307 Bloomfield Ave, Caldwell, NJ 07006. General information, not legal or tax advice.