ACREX · CALDWELL, NJ
Lease your retail space in northern New Jersey
Q3 2026 vacancy and rents, what your lease is worth after fees, and the terms that matter.
This page helps owners of storefronts, strip centers and pad sites in Bergen, Essex, Hudson, Morris, Passaic and Union counties price their space, see what a lease is worth after fees and decide how to market it.
The northern NJ retail market, Q3 2026
Vacancy: 3.3% (Matthews, Q3 2026) and 3.1% (Blauberg, 3Q26). Blauberg calls it the second-tightest major retail market in the country.
Average asking rent: $27.95/SF, a record and up 4.6% in a year (Matthews). Blauberg’s market rent: $26.85/SF.
Newark is the tightest submarket at 1.0% vacancy (Matthews). Blauberg reports vacancy below 2% in parts of Bergen and Union counties.
New supply is minimal: space under construction is 0.2% of inventory (Matthews).
Regional averages, as reported by each source; the two sources measure differently. Checked November 2, 2026.
Who is leasing
Grocery, discount, service and small-format users are driving demand (Blauberg, 3Q26). Fitness, medical and food service tenants also fill second-generation space. Pick tenants whose business will last as long as the lease.
Customers near your storefront
New apartments bring new customers. Check approved and planned projects within a mile of your property on the NJ development pipeline map; each project links to its public record.
What your lease is worth after fees
Example: 3,000 SF at the $27.95/SF average, 10-year lease, 3% yearly increases = $961,246 of total base rent. AcreX’s fee: 5% on years 1–5 ($22,259) plus 2.5% on years 6–10 ($12,902) = $35,160, half to the tenant’s broker if one is involved.
Retail lease terms to get right
Use clause and exclusives: what the tenant may sell, and what you promise not to lease to a competitor.
Co-tenancy: rent relief if an anchor leaves. Limit it.
Percentage rent: a share of sales above a breakpoint.
CAM caps: limits on how much shared costs can rise each year.
Personal guaranty or security deposit, especially for new businesses.
Signage, hours and parking rules.
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.
Related: lease your commercial property in NJ · choosing a retail broker · property management fees (retail and mixed-use 5%) · free rent and value estimate.
Retail by county: Essex · Bergen · Hudson · Morris · Passaic · Union.
Questions owners ask
What does retail space rent for in northern NJ?
The regional average asking rent was $27.95/SF in Q3 2026 (Matthews); Blauberg puts market rent at $26.85/SF. A corner pad on a highway and a side-street storefront rent very differently, so ask for a written rent opinion for your space.
How long does it take to lease a storefront in NJ?
Northern NJ retail vacancy is 3.1–3.3% (Blauberg; Matthews, Q3 2026), so well-priced space in a good location tends to lease faster than office or industrial. Price, condition and the use clause matter more than the market average.
Should I offer free rent or a tenant improvement allowance?
In a tight market you usually need less, but national and franchise tenants often expect some allowance. Compare offers on net effective rent: total rent minus free rent, allowances and fees.
Who pays the broker on a retail lease?
Usually the landlord, as a percentage of total base rent, split with the tenant’s broker. AcreX charges 5% for years 1–5 and 2.5% after. In New Jersey commissions are negotiable.
Do I need a broker, or can I list it on LoopNet myself?
You can list it yourself; LoopNet is a paid listing site. A broker adds pricing, outreach to tenants and their brokers, screening and lease negotiation.
More owner questions: AcreX FAQ.
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.