New London Office Market Trends

Office Rental Market

  • $19.26 2019 Avg. Asking Rent
  • 20.29 % 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 London was $19.26 per square foot, and the office vacancy rate across the market averaged 20.29 %. During 2019, developers added 0 square feet of new office space to the New London 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 London Class B Office Buildings$22.06
  • CT Class A Office Buildings$35.66
  • CT Class B Office Buildings$24.46
  • CT Class C Office Buildings$18.42

New London, CT Office Asking Rents by Class

OFFICE CONSTRUCTION IN New London, CT

  • New London, CT Total Sqft completed in 2019 0
  • New London, CT Total Sqft under construction in 2020 0
10 Largest Office Buildings in New London
Building name Address Total Sqft Year built
1 Chelsea Street 1 Chelsea Street, 06320 90,400 1990
6 Shaws Cove 6 Shaws Cove, 06320 90,000 1988
Mariner Square 125 Eugene O'Neill Drive, 06320 80,000 1981
3 Shaws Cove 3 Shaws Cove, 06320 70,158 1987
106 Truman Street 106 Truman Street, 06320 67,082 1910
26 Washington Street, 26 Washington Street, 06320 66,668 1961
Harris Place 165 State Street, 06320 65,000 1885
47 Eugene O'Neill Drive 47 Eugene O'Neill Drive, 06320 61,706 1900
One & Two Union Plaza 1 Union Plaza, 06320 52,638 1968
224, 238 & 258 Bank Street & 1 Sparyard Street 224 Bank Street, 06320 51,000 1833
Largest Office Properties Recently Completed in New London
Office building Address Sqft Completed
1 Chelsea Street 1 Chelsea Street, 06320 90,400 1990
6 Shaws Cove 6 Shaws Cove, 06320 90,000 1988
Manwaring Building 223 State Street, 06320 37,578 1988
223 State Street 223 State Street, 06320 37,578 1988
2 Shaws Cove 2 Shaws Cove, 06320 31,366 1988
3 Shaws Cove 3 Shaws Cove, 06320 70,158 1987
5 Shaws Cove 5 Shaws Cove, 06320 37,026 1987
400 Bayonet Street 400 Bayonet Street, 06320 31,956 1987
4 Shaws Cove 4 Shaws Cove, 06320 29,236 1987
LM Medical Office Building 194 Howard Street, 06320 48,330 1985
Data provided by Commercial Edge

Office Spaces for Rent in Connecticut

See trends for nearby markets

The New London office market contains an inventory of 832,258 square feet of office space, in 18 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 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 CommercialEdge can guarantee that the information provided is complete.