New Haven Office Market Trends

Office Rental Market

  • $28.95 2019 Avg. Asking Rent
  • 11.04 % 2019 Avg. Vacancy Rate
  • 0 2019 Office Completions (Sqft)
  • 0 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in New Haven was $28.95 per square foot, and the office vacancy rate across the market averaged 11.04 %. During 2019, developers added 0 square feet of new office space to the New Haven market inventory. Office developments estimated for delivery during 2020 total 0 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • New Haven Class A Office Buildings$30.95
  • New Haven Class B Office Buildings$25.50
  • New Haven Class C Office Buildings$16.59
  • CT Class A Office Buildings$35.66
  • CT Class B Office Buildings$24.46
  • CT Class C Office Buildings$18.42

New Haven, CT Office Asking Rents by Class

Office asking rents vary across the New Haven office market depending on several factors, one of which is property class. While rents for Class A office buildings in New Haven averaged $30.95 per square foot in 2019, Class B office properties garnered average rental rates of $25.50 per square foot. Rental rates for Class C office property in New Haven averaged $16.59 per square foot. On a statewide level, Class B office space rents averaged $24.46 per square foot, while rents for Class A office space across Connecticut averaged $35.66 per square foot. On average, Class C office properties in Connecticut commanded rents of $18.42 per square foot.

OFFICE CONSTRUCTION IN New Haven, CT

  • New Haven, CT Total Sqft completed in 2019 0
  • New Haven, CT Total Sqft under construction in 2020 0
10 Largest Office Buildings in New Haven
Building name Address Total Sqft Year built
300 George Street Technology Center 300 George Street, 06511 518,000 1959
The Connecticut Financial Center 157 Church Street, 06510 467,500 1987
Long Wharf Maritime Center - I 555 Long Wharf Drive, 06511 418,595 1985
310 Orange Street 310 Orange Street, 06510 411,420 1955
310 Orange Street 310 Orange Street, 06510 355,458 1955
One Century Tower 265 Church Street, 06510 282,256 1990
Knights of Columbus Headquarters 1 Columbus Plaza Street, 06510 275,600 1969
Science Park - Building 25 150 Munson Street, 06511 273,092 1915
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
Largest Office Properties Recently Completed in New Haven
Office building Address Sqft 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
Data provided by Commercial Edge

Office Spaces for Rent in Connecticut

See trends for nearby markets

The New Haven office market contains an inventory of 6,407,143 square feet of office space, in 57 buildings that are equal to or larger than 25,000 square feet.

This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive 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.