NJ TRANSIT HUB PERSPECTIVE | SUMMER 2018
Defining New Jersey’s Transit Hubs & Villages
New Jersey’s Transit Hubs are typically characterized by one or more of these factors:
a significant number of office properties clustered near or within a downtown, urban or
town center; adjacent or proximate to a New Jersey Transit rail station; and offers a mass
transit commuting option within walking distance of the commuter’s office location.
Urban Transit Hubs
Suburban Transit Hubs
Urban Transit Hubs in this report
are major office markets with rail
stations that allow commuters
living in New Jersey and Manhattan
the advantage of reaching the rail
stations without having to drive.
These Urban Transit Hubs are: Suburban Transit Hubs are
smaller versions of Urban Transit
Hubs with more local access,
typically smaller office buildings
and walkable amenities.
Suburban Transit Hubs
contained therein are:
Hoboken/Jersey City
Newark
New Brunswick
Trenton Metropark
Morristown
Princeton
Summit
2017
Average
(asking)
rental rate
(PSF) 2017
Vacancy Express
to NYC Standard
to NYC
SUMMIT $44.50 4.0% 37 Min 58 Min
HOBOKEN /
JERSEY CITY $38.42 19.5% Light
Rail 13 Min
METROPARK $31.60 21.7% 37 Min 45 Min
PRINCETON $28.25 18.7% 67 Min 90 Min
MORRISTOWN $28.83 15.6% 55 Min 72 Min
TRENTON $23.81 9.9% 67 Min 98 Min
NEWARK $25.30 22.5% 18 Min 28 Min
NEW BRUNSWICK $26.10 3.7% 30 Min 45 Min