2020 Office Space Rent & Sales
- $32.30 2020 Avg. Asking Rent
- -2.29 % Y-o-Y Avg. Asking Rent Change
- 8.88 % 2020 Office Vacancy Rate
Hollywood office price per square foot in 2020 was $32.30 on average. This marked a -2.29 % change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 8.88 % across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Hollywood Class A Office Space$34.19
- Hollywood Class B Office Space$28.10
- Hollywood Class C Office Space$27.40
- Florida Class A Office Space$37.78
- Florida Class B Office Space$23.96
- Florida Class C Office Space$18.38
Hollywood, FL Office Asking Rents by Class
Average office rent in Hollywood rested at $32.30 per square foot in 2020. 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 Hollywood averaged $34.19 per square foot. Across all submarkets, class B office space recorded an average asking rent of $28.10 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $27.40 per square foot, on average. Comparably, statewide Florida average office rents by class in 2020 were: $37.78 per square foot for class A office space; $23.96 per square foot for class B office space; $18.38 per square foot for class C office space.
2020 Office Vacancy Rates in Hollywood
|Submarket||Asking Rents||Vacancy Rates|
|Airport - Dania Beach||$29.31||8.83 %|
2020 Office Construction in Hollywood, FL
|3800 Johnson Street||3800 Johnson Street, 33021||48,810||2006|
|3702 Washington Street||3702 Washington Street, 33021||43,606||1994|
|Sheridan Street Professional Plaza||7261 Sheridan Street, 33024||120,075||1991|
|Presidential Circle||4000 Hollywood Blvd, 33021||281,625||1989|
|One Sheridan Place||3990 Sheridan Street, 33021||28,352||1989|
|Oakwood Business Center - Buildings I & II||1 Oakwood Blvd, 33020||115,231||1988|
|Emerald Lake Corporate Park - 3111 Stirling Road||3111 Stirling Road, 33312||54,296||1988|
|Taft Office Complex||6565 Taft Street, 33024||50,101||1988|
|3850 Professional Building||3850 Hollywood Blvd, 33021||31,724||1987|
|300 Oakwood Lane||300 Oakwood Lane, 33020||29,663||1987|
Worth noting among recent office completions on the Hollywood market is Emerald Lake Corporate Park - 3111 Stirling Road, which is currently the largest new office development in the city, at 54,296 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 Hollywood 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.