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Florham Park Project Among the Priciest in North America

FLORHAM PARK, NJ-Campus Drive may not be a traditional urban area, but demographics and construction helps it rank among the top 20 most expensive rents on the continent, says owner KBS and operator CBRE.

By Debra Hazel | Updated on September 21, 2011

FLORHAM PARK, NJ-It’s not exactly a street in the traditional sense, but when it means you’re ranked among the top 20 office markets in the United States, semantics really don’t matter. At least not to the owner and operator of Campus Drive at Park Avenue at Morris County, which placed 20th on Jones Lang LaSalle’s annual listing of the most expensive office streets in North America.

Campus Drive’s $38 per square foot average full service rent makes it the most expensive in New Jersey. As important is that the average market rent for the rest of the metro area is $27.99 per square foot. Not bad for a 20-year-old, 1.2 million-square-foot project.

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