2022 Office Space Rent & Sales
- $31.53 2022 Avg. Asking Rent
- 27.33% 2022 Office Vacancy Rate
- $201.5M2022 Total Office Sales
- $296.24Avg. Sale Price/SF
Chandler office price per square foot in 2022 was $31.53 on average. The local office market recorded an average vacancy rate of 27.33% across all asset classes combined. The 3 transactions that closed here throughout 2022 amounted to a total sale volume of $201.5M. Chandler office space commanded an average sale price per square foot of $296.24.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Chandler Class A & A+ Office Space$32.01
- Chandler Class B Office Space$30.81
- Chandler Class C Office Space$20.35
- Arizona Class A & A+ Office Space$31.16
- Arizona Class B Office Space$23.96
- Arizona Class C Office Space$19.42
Chandler, AZ Office Asking Rents by Class
Average office rent in Chandler rested at $31.53 per square foot in 2022. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Chandler averaged $32.01 per square foot. Across all submarkets, class B office space recorded an average asking rent of $30.81 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $20.35 per square foot, on average. Comparably, statewide Arizona average office rents by class in 2022 were: $31.16 per square foot for class A office space; $23.96 per square foot for class B office space; $19.42 per square foot for class C office space.
2022 Office Vacancy Rates in Chandler
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Chandler | $31.53 | 27.33% |
Gilbert | $24.95 | 4.16% |
Chandler Office Sale Price per SF
- $296.242022 Avg. Price per SF
- -2.47%Y-o-Y Avg. PpSF Change
- $201.5M2022 Office Sales Volume
- 32022 Number of Transactions
Chandler, AZ Sale Price per SF Trend
- Chandler Avg. Sale Price per SF in 2022$296.24
- Arizona Avg. Sale Price per SF in 2022$254.46
2022 Office Sales Volume
- Chandler, AZ Total Office Sales Volume in 2022 $201.5M
- Chandler, AZ Total Number of Office Sales Closed in 2022 3
Largest Chandler Office Sales in 2022
Property name | Address | Date | Price |
---|---|---|---|
Continuum | 2501 South Price Road | 11/16/2022 | $115,000,000 |
Alexander, The | 25 South Arizona Place | 3/28/2022 | $45,500,000 |
Johnathan, The | 55 North Arizona Place | 3/28/2022 | $41,000,000 |
Coworking Spaces in Arizona
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2022 Office Construction in Chandler, AZ
- Chandler, AZ Total SF under construction in 2023 300,000
Office building | Address | SF | Completed |
---|---|---|---|
Allred Park Place | 1475 S Price Road, 85286 | 150,000 | 2021 |
Allred Park Place | 1375 S Price Road, 85286 | 150,000 | 2021 |
New Square | 180 S Arizona Avenue, 85225 | 51,000 | 2020 |
The Office at Chandler Viridian | 3133 West Frye Road, 85226 | 249,217 | 2019 |
Chandler Freeway Crossing - 2625 West Geronimo Place | 2625 West Geronimo Place, 85224 | 153,370 | 2019 |
Park Place - 1650 South Price Road | 1650 South Price Road, 85286 | 123,341 | 2019 |
The Offices at Chandler Viridian | 3133 W Frye Road, 85226 | 249,584 | 2018 |
Class A Office Space for Sublease in Chandler | One Chandler Corporate Center 350 N McClintock Dr, 85226 | 117,394 | 2018 |
One Chandler Corporate Center - Building 1 | 350 North McClintock Drive, 85226 | 117,176 | 2018 |
Tiburon @ Chandler Airport | 2065 South Cooper Road, 85286 | 81,050 | 2016 |
Worth noting among recent office completions on the Chandler market is Allred Park Place, which is currently the largest new office development in the city, at 150,000 square feet.
See reports for other markets
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Chandler commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.