2023 Office Space Rent & Sales
- $30.16 2023 Avg. Asking Rent
- 4.44% Y-o-Y Avg. Asking Rent Change
- 13.37% 2023 Office Vacancy Rate
- $25.2M2023 Total Office Sales
- $235.45Avg. Sale Price/SF
Coral Springs office price per square foot in 2023 was $30.16 on average. This marked a +4.44% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 13.37% across all asset classes combined. The 3 transactions that closed here throughout 2023 amounted to a total sale volume of $25.2M. Coral Springs office space commanded an average sale price per square foot of $235.45.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Coral Springs Class A & A+ Office Space$32.00
- Coral Springs Class B Office Space$28.63
- Coral Springs Class C Office Space$24.63
- Florida Class A & A+ Office Space$36.87
- Florida Class B Office Space$27.52
- Florida Class C Office Space$32.32
Coral Springs, FL Office Asking Rents by Class
Average office rent in Coral Springs rested at $30.16 per square foot in 2023. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Coral Springs averaged $32.00 per square foot. Across all submarkets, class B office space recorded an average asking rent of $28.63 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $24.63 per square foot, on average. Comparably, statewide Florida average office rents by class in 2023 were: $36.87 per square foot for class A office space; $27.52 per square foot for class B office space; $32.32 per square foot for class C office space.
Coral Springs Office Sale Price per SF
- $235.452023 Avg. Price per SF
- 21.46%Y-o-Y Avg. PpSF Change
- $25.2M2023 Office Sales Volume
- 32023 Number of Transactions
Coral Springs, FL Sale Price per SF Trend
- Coral Springs Avg. Sale Price per SF in 2023$235.45
- Florida Avg. Sale Price per SF in 2023$213.92
2023 Office Sales Volume
- Coral Springs, FL Total Office Sales Volume in 2023 $25.2M
- Coral Springs, FL Total Number of Office Sales Closed in 2023 3
Coworking Spaces in Florida
- Houston Coworking Space
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- Alpharetta Coworking Space
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- Miami Beach Coworking Space
2023 Office Construction in Coral Springs, FL
Office building | Address | SF | Completed |
---|---|---|---|
Coral Springs Medical Office Building 2 | 3001 Coral Hills Dr, 33065 | 40,500 | 2009 |
Heron Bay Corporate Center I - Bldg. 4 | 5830 Coral Ridge Drive, 33076 | 45,383 | 2008 |
Heron Bay Corporate Center I - Bldg. 3 | 5810 Coral Ridge Drive, 33076 | 45,344 | 2006 |
Coral Hills Medical Office Building 1 | 2901 Coral Hills Dr, 33065 | 40,500 | 2006 |
MedArts in the Springs I | 2901 Coral Hills Drive, 33065 | 45,299 | 2005 |
Heron Bay Corporate Center - Bldg 1 | 11575 Heron Bay Boulevard, 33076 | 45,000 | 2000 |
Heron Bay Corporate Center I & II | 11555 Heron Bay Blvd, 33076 | 89,043 | 1999 |
Commercial Bank Plaza (Bank of America) | 1999 N University Drive, 33071 | 54,223 | 1988 |
Pine Ridge Square | 4601 North University Drive, 33067 | 117,744 | 1987 |
9750 NW 33rd Street | 9750 NW 33rd Street, 33065 | 52,523 | 1987 |
Worth noting among recent office completions on the Coral Springs market is Coral Springs Medical Office Building 2, which is currently the largest new office development in the city, at 40,500 square feet.
See reports for other markets
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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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Coral Springs 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.