South New Jersey Real Estate Market Reports

Southern New Jersey Office Market

Southern New Jersey’s office vacancy rate stood at 13.0% as of the fourth quarter, representing a 260-basis-point decrease over the past year and signaling ongoing market stabilization. Net absorption totaled 101,085 SF during the fourth quarter of 2025, bringing 2025’s annual absorption total to 256,423 SF. Over the past year, modest rent growth has returned, with 0.3% growth since the fourth quarter of 2024 to average $21.72/SF as of the fourth quarter of 2025. Asking rents for Class A space registered $23.73/SF as of the fourth quarter, an increase of 2.5% from the prior quarter. Class B rents saw a smaller increase over the same period, rising 0.2% to register $20.85/SF as of the fourth quarter. Asking rents for sublease space dropped slightly in the fourth quarter to an average of $15.37/SF, a 6.4% decline over the past year.