Newark Office Market Trends

Office Rental Market

  • $21.96 2019 Avg. Asking Rent
  • 9.93 % 2019 Avg. Vacancy Rate
  • 0 2019 Office Completions (Sqft)
  • 0 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Newark was $21.96 per square foot, and the office vacancy rate across the market averaged 9.93 %. During 2019, developers added 0 square feet of new office space to the Newark 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

  • Newark Class B Office Buildings$21.96
  • DE Class A Office Buildings$33.31
  • DE Class B Office Buildings$23.25
  • DE Class C Office Buildings$14.62

Newark, DE Office Asking Rents by Class

OFFICE CONSTRUCTION IN Newark, DE

  • Newark, DE Total Sqft completed in 2019 0
  • Newark, DE Total Sqft under construction in 2020 0
10 Largest Office Buildings in Newark
Building name Address Total Sqft Year built
Morgan Christiana Center 500 Stanton Christiana Road, 19713 655,185 1986
Bank of America - Christiana Center I, II & III 1000 Samoset Drive, 19713 561,614 1991
655 Paper Mill Road 655 Paper Mill Road, 19711 550,583 1899
Christiana Executive Campus 111 Continental Drive, 19713 448,712 1986
University Office Plaza 260 Chapman Road, 19702 184,240 1971
Sallie Mae Headquarters 300 Continental Drive, 19713 160,000 1984
Christiana Corporate Center 400 Commerce Drive, 19713 150,000 1983
Springside Plaza 200 Biddle Avenue, 19702 144,104 2001
242 & 248 Chapman Road 242 Chapman Road, 19702 142,695 1987
Christiana Hospital - Medical Arts Pavilion 1 & 2 and Surgicenter 4735 Ogletown-Stanton Road, 19713 131,108 1987
Largest Office Properties Recently Completed in Newark
Office building Address Sqft Completed
Tower at STAR 100 Discovery Blvd, 19713 120,000 2018
Delaware Center for Health & Wellness 620 Churchmans Road, 19702 40,539 2018
Star Campus - 550 South College Avenue 550 South College Avenue, 19713 69,877 2015
1352 Marrows Road 1352 Marrows Road, 19711 42,000 2006
Abby Medical Center 1 Centurian Drive, 19713 75,000 2004
Apex Medical Center 537 Stanton Christiana Road, 19713 64,000 2004
Metro Professional Offices 4923 Ogletown-Stanton Road, 19713 46,050 2002
Springside Plaza 200 Biddle Avenue, 19702 144,104 2001
500 Creek View Road 500 Creek View Road, 19711 99,739 1999
200 Commerce Drive 200 Commerce Drive, 19713 68,000 1998
Data provided by Commercial Edge

Office Spaces for Rent in Delaware

See trends for nearby markets

The Newark office market contains an inventory of 5,392,872 square feet of office space, in 76 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 Newark 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.