2024 Office Space Rent & Sales
- $19.44 2024 Avg. Asking Rent
- 16.92% 2024 Office Vacancy Rate
New London office price per square foot in 2024 was $19.44 on average. The local office market recorded an average vacancy rate of 16.92% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2024 Average Office Rent per Square Foot
- Connecticut Class A & A+ Office Space$31.22
- Connecticut Class B Office Space$20.66
New London, CT Office Asking Rents by Class
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| Office building | Address | SF | Completed |
|---|---|---|---|
| 1 Chelsea Street | 1 Chelsea Street, 06320 | 90,400 | 1990 |
| 2 Shaws Cove | 2 Shaws Cove, 06320 | 31,366 | 1988 |
| 5 Shaws Cove | 5 Shaws Cove, 06320 | 37,026 | 1987 |
| 7 Governor Winthrop Blvd | 7 Governor Winthrop Blvd, 06320 | 8,200 | 1975 |
| 464 Ocean Avenue | 464 Ocean Avenue, 06320 | 10,500 | 1957 |
| 27 Masonic Street | 27 Masonic Street, 06320 | 35,112 | 1933 |
| 27 Bank Street | 27 Bank Street, 06320 | 11,676 | 1875 |
| 40-42 Bank St | 40-42 Bank St, 06320 | 7,400 | 1789 |
Worth noting among recent office completions on the New London market is 1 Chelsea Street, which is currently the largest new office development in the city, at 90,400 square feet.
See reports for other markets
- Stamford Office Rent Price
- Hartford Office Rent Price
- Greenwich Office Rent Price
- Danbury Office Rent Price
- Shelton Office Rent Price
- Boston Office Rent Price
- Providence Office Rent Price
- New Haven Office Rent Price
- Miami Office Rent Price
- Dallas Office Rent Price
- San Francisco Office Rent Price
- Charlotte Office Rent Price
- Denver Office Rent Price
- Manhattan Office Rent Price
- Seattle Office Rent Price
- Chicago Office Rent Price
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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by Yardi Research Data, a market intelligence solution which offers comprehensive real market knowledge on all New London 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 Yardi Research Data can guarantee that the information provided is complete.