Looking for Office Space for Rent in NJ? Here Are Some of the Best Areas to Look!
Looking for office space for rent in NJ is a wise step in your journey to start or further enhance your business. The location of your office space is a huge factor that should not be overlooked. Buying an office space really locks you in. Choosing an office space for rent in NJ, however, gives you the flexibility to choose a location without the fear of long term commitment. Blau & Berg can help you there.
As you embark on your journey of finding the perfect match of an office space for rent in NJ, first consider these important factors of what makes a location the most ideal place for your office. And remember, each business is unique in its top needs and criteria.
Factors that make a location good
What do we mean when we say “best areas”? Well, a good place would ideally have all, or at least most, of these factors:
- A suitable environment
This means that the surrounding areas will provide you, your employees, and your customers with the necessary and convenient amenities. Do you want to be around other offices with a similar business culture? Do you want to be near easy parking and/or public transportation? Do you want a diverse population? Easy access to nature and parks? Ample options for food whether it may be restaurants or grocery shopping or both? Convenient and or top of the line shopping? Take the time to think about what is best suited for your particular business.
- Matching income
Look for an area with an average income that matches your services or products. If you are located in an area with potential customers, then you are more likely to have a higher rate of conducted business. The people who drive by or walk by will get a lot of exposure to your office, and that is a great way to bring in customers. If you have a high price point for your services, look for an area with a higher average income.
- Happiness
Yes, choosing a place rated high for overall happiness is a good factor to consider. According to Wallet Hub, New Jersey is ranked as the fifth happiest state to live in. That is a very high ranking when you consider the diverse range of our fifty states here in America. The research to back this finding included many categories that gave each state its total score.
In the “Emotional and Physical Well Being” category, New Jersey ranked 2nd, beat only by Hawaii. A happy state means there is a better chance you will find happy employees to hire for your office space, and it also means you will have happy customers. Happy customers are more likely to spend money. This will make you happy in return. What a beautiful cycle!
- Population
Depending on the type of business you run, it is likely you will want an office space around a lot of other people or businesses to bring in the most foot traffic. There is a fine line here, however, and you want to be in an area with a decently sized population but not TOO big or you will run into competition.
Getting exposure to passersby and having neighbors that you can build positive relationships with will help spread the word of mouth references you get. Word of mouth is a huge marketing channel that will bring in a lot of money. If you are looking for office space for rent in NJ, you will likely end up in an area with a decent amount of people. If not, try to stay close to the town’s downtown area or cluster around other businesses.
Best places for starting a business in NJ
Now that you have some factors to consider that are specific to your business, you can start to review the following towns that are considered prime locations for office space for rent in NJ. This list is ordered by highest annual revenue per business.
1) East Hanover
Home to Nabisco products, this town with a population of 11,200 brings in an annual revenue of nearly $9 million per business. No surprise that this wildly successful snack company would bring the town of East Hanover high up in the ranks. This whopping number definitely puts it high up in many lists for best places for office space for rent in NJ.
2) Red Bank
Loaded with shopping centers, malls, restaurants, and now even a popular theatre is a great location to open a business. People here are thriving, happy and generally quite active and willing to spend money. The average annual revenue per business here in Red Bank is $6.75 million.
3) Plainsboro
Situated in Middlesex county, Plainsboro hails a population of around 23,000. The town’s average annual revenue per business is approximately $6.5 million dollars. On the outskirts of Princeton, NJ, this small town ranks high up in the list of best places to live in NJ.
Being located near the Ivy League school has many benefits including easy access to graduates looking for jobs, and proximity to a bustling center of intellectualism. Another perk to renting office space in Plainsboro NJ, is that it will have relatively low competition within the immediate town. It is a quiet town, yet affluent.
4) Parsippany-Troy Hills
With a population of over 53,000, Parsipanny-Troy Hills ranks 4th because its average annual revenue per business is around $5.3 million. A unique advantage to choosing Parsippany as the future home for your business is that the township offers free public transit to its’ residents. This makes for an easy commute for you and local employees, and it means residents, (aka your future customers), are out and about and on the go. With over 50,000 residents, Parsipanny is the largest town mentioned in this list, perhaps an advantage for a larger pool of potential customers.
5) Secaucus
Lying in Hudson County, Secaucus is renowned as a mecca for shoppers. The average annual revenue is $5.54 million per business, which is the main reason it gets ranked as number 5. Other factors to consider, like its higher crime rate than other parts of New Jersey, are worth looking into before choosing it as your top pick of towns to search for an office space for rent in NJ.
6) Hanover
Most renowned for its railway called the Morris County Central Railroad, and now the Whipping Railway Museum, Hanover has an average annual revenue of $4.86 million per businesses entity. Railways make way for easy transport, a key factor in efficient business.
7) Moorestown
Located in Burlington County, this town has a population of around 21,000 residents. Moorestown is the kind of place where “old meets new.” The main part of downtown Moorestown makes you feel like you are in times’ past. With just the right amount of modernization and renovations, this charming town is also capable of being home to a thriving business scene.
8) Eatontown
This Monmouth county borough has the perfect sized population for business to flow without overly competitive neighbors. Eaton town also has a reputation for its citizens focus on health and fitness, which are both factors in how happy a population is. Healthy and fit employees and customers are a key to success for business owners.
9) Paramus
What was once a celery farm capitol has now turned into a retail shopping capitol. The 26,000 residents in this Bergen county town are also proud of the Barclay’s Fedex Cup, which is a famous golf tournament that Paramus hosts every year. Paramus is also home to the Bergen County Zoological Park, which has wonderful walking paths and fun attractions for families. With nearly $3 million as the average annual revenue for businesses, Paramus makes its way onto the list for a great location to rent office space.
10) Hackensack
Not quite as large as Parsippany, Hackensack is the second largest town on this list with a population of around 43,500. The annual average revenue for businesses here is approximately $2 million. Hackensack is a diverse town giving businesses a wide range of appeal. The downtown area has a very convenient transit station which comes in handy for employees and customers alike.
While this list is organized by the towns’ highest average annual revenue for its businesses, it is important to note other factors of each town as you search for your prime office space for rent. In NJ you should consider factors like pollution, crime rate, unemployment rate, average income and what nearby amenities exist like public transit.
Taking note of what competition may be like is another important factor that is very specific to each unique business. Take your time, do your research, and if possible, visit these towns to really get a feel for what it would be like to rent office space there.
Finding the perfect office space for rent in NJ
Finding the right city, neighborhood and property is the first step in building a successful business empire. Blau & Berg can help you in this process.
Since its inception in 1932, The Blau & Berg Company has held a leading position in the New Jersey and Tri-State commercial real estate market. Headquartered in Short Hills, New Jersey, Blau & Berg is an independent, full- service commercial real estate brokerage firm providing services in the industrial, retail and office spaces, including: site selection, acquisitions, dispositions, leasing, tenant representation, portfolio sales, asset repositioning, and property & construction consulting.
