2020 Office Space Rent & Sales
- $36.80 2020 Avg. Asking Rent
- -2.17% Y-o-Y Avg. Asking Rent Change
- 29.90% 2020 Office Vacancy Rate
Norwalk office price per square foot in 2020 was $36.80 on average. This marked a -2.17% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 29.90% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Norwalk Class A Office Space$39.56
- Norwalk Class B Office Space$31.57
- Connecticut Class A Office Space$35.83
- Connecticut Class B Office Space$23.70
- Connecticut Class C Office Space$18.29
Norwalk, CT Office Asking Rents by Class
2020 Office Construction in Norwalk, CT
- Norwalk, 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 Norwalk office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.
|230 East Avenue||230 East Avenue, 06855||44,585||2020|
|iPark Norwalk||761 Main Avenue, 06851||400,000||2007|
|The Towers at Merritt River - 901 Main Avenue||901 Main Avenue, 06851||369,000||2005|
|The Towers at Merritt River - 801 Main Avenue||801 Main Avenue, 06851||323,408||2004|
|The Towers at Merritt River - 45 Glover Avenue||45 Glover Avenue, 06850||255,000||2001|
|The Lock Building||20 Marshall Street, 06854||134,770||2001|
|Merritt 7 Corporate Park - Building 601||601 Merritt 7, 06851||208,000||2000|
|Merritt 7 Corporate Park - Building 501||501 Merritt 7, 06851||208,000||1990|
|Matrix Corporate Center at Norwalk||535 Connecticut Avenue, 06854||179,000||1988|
|40 Cross Street||40 Cross Street, 06851||69,131||1988|
Worth noting among recent office completions on the Norwalk market is 230 East Avenue, which is currently the largest new office development in the city, at 44,585 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 Norwalk 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.