Wilmington Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $28.33 2024 Avg. Asking Rent
  • 22.20% 2024 Office Vacancy Rate

Wilmington office price per square foot in 2024 was $28.33 on average. The local office market recorded an average vacancy rate of 22.20% 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

  • Delaware Class A & A+ Office Space$26.06
  • Delaware Class B Office Space$24.93
  • Delaware Class C Office Space$12.91

Wilmington, DE Office Asking Rents by Class

2024 Office Vacancy Rates in Wilmington

Submarket Asking Rents Vacancy Rates
Wilmington - Central $28.99 25.74%
Wilmington - Suburban $23.24 17.64%
Newark - New Castle $17.69 27.44%
Data provided by Yardi Research
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Wilmington market was 22.20% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Wilmington was 17.64% in the Wilmington - Suburban submarket, while the highest office vacancy in the market was 27.44%, recorded in Newark - New Castle.

Office Spaces for Rent in Delaware

Coworking Spaces in Delaware

2024 Office Construction in Wilmington, DE

  • Wilmington, DE Total SF completed in 2024 105,303
  • Wilmington, DE Total SF under construction in 2025 100,000

During 2024, 105,303 square feet of new office space were delivered across the market. At the close of 2024, the Wilmington office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 105,303 square feet of office space. Looking forward, development activity throughout 2025 is estimated to add 100,000 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Wilmington
Office building Address SF Completed
Barley Mill - Walkers Mill 500 Dupont Field Blvd, 19807 105,303 2024
Montchanin Corporate Center 20 Montchanin Rd, 19807 131,546 2020
Star Building 123 Justison Street, 19801 149,308 2010
Limestone Shopping Center Limestone Shopping Center - 2060 Limestone Road, 19808 27,113 2008
2710 Centerville Road 2710 Centerville Road, 19808 58,591 2006
Orchard Commons 5570-5630 Kirkwood Highway, 19808 42,020 2004
Tall Oaks Business Park and Build To Suit Land 3700 Lancaster Pike, 19805 29,740 2004
1300 North Grant Avenue 1300 North Grant Avenue, 19806 46,488 2003
Shipyard Center 900-1095 Justison Street, 19801 191,696 2000
5305 Limestone Rd 5305 Limestone Rd, 19808 17,414 1998

Worth noting among recent office completions on the Wilmington market is Barley Mill - Walkers Mill, which is currently the largest new office development in the city, at 105,303 square feet.

Data provided by Yardi Research

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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 Wilmington 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.