2020 Office Space Rent & Sales
- $30.88 2020 Avg. Asking Rent
- 13.81% 2020 Office Vacancy Rate
New Haven office price per square foot in 2020 was $30.88 on average. The local office market recorded an average vacancy rate of 13.81% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- New Haven Class A Office Space$33.43
- New Haven Class B Office Space$26.42
- New Haven Class C Office Space$16.59
- Connecticut Class A Office Space$35.83
- Connecticut Class B Office Space$23.70
- Connecticut Class C Office Space$18.29
New Haven, CT Office Asking Rents by Class
Average office rent in New Haven rested at $30.88 per square foot in 2020. 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 New Haven averaged $33.43 per square foot. Across all submarkets, class B office space recorded an average asking rent of $26.42 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $16.59 per square foot, on average. Comparably, statewide Connecticut average office rents by class in 2020 were: $35.83 per square foot for class A office space; $23.70 per square foot for class B office space; $18.29 per square foot for class C office space.
2020 Office Construction in New Haven, CT
- New Haven, CT Total SF completed in 2020
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the New Haven office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Park Street Building | 55 Park Street, 06513 | 140,000 | 2010 |
| 2 Howe Street | 2 Howe Street, 06511 | 72,560 | 2009 |
| 1 Howe Street | 1 Howe Street, 06511 | 62,500 | 2005 |
| One Audubon | 1 Audubon Street, 06511 | 58,351 | 2003 |
| 600 State Street | 600 State Street, 06511 | 93,108 | 1999 |
| Granite Square | 700 State Street, 06511 | 54,352 | 1989 |
| One Long Wharf | 1 Long Wharf Drive, 06511 | 270,000 | 1988 |
| Long Wharf Maritime Center - 545 Long Wharf Drive | 545 Long Wharf Drive, 06511 | 256,520 | 1988 |
| The Connecticut Financial Center | 157 Church Street, 06510 | 467,500 | 1987 |
| Yale Physicians Building | 800 Howard Avenue, 06519 | 68,918 | 1987 |
Worth noting among recent office completions on the New Haven market is Park Street Building, which is currently the largest new office development in the city, at 140,000 square feet.
See reports for nearby markets
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 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all New Haven 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.