Hollywood Office Rent Price & Sales Report

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
Hollywood $32.72 9.75%
Airport - Dania Beach $29.31 8.83%
Data provided by Commercial Edge
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 Hollywood market was 8.88% in 2020. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Hollywood was 8.83% in the Airport - Dania Beach submarket, while the highest office vacancy in the market was 9.75%, recorded in Hollywood.

Office Spaces for Rent in Florida

2020 Office Construction in Hollywood, FL

  • Hollywood, FL Total SF completed in 2020

During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Hollywood office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.

Largest Office Properties Recently Completed in Hollywood
Office building Address SF Completed
Icon Office Building 1895 Tyler Street, 33020 72,000 2022
1101 Hillcrest Drive 1101 Hillcrest Drive, 33021 10,938 2018
3685 SW 30th Avenue 3685 SW 30th Avenue, 33312 18,085 2016
3800 Johnson Street 3800 Johnson Street, 33021 48,810 2006
Harrison Executive Centre 1930 Harrison Street, 33020 55,000 2004
Emerald Lake Plaza 3107 Stirling Road, 33312 41,249 1999
4100 Hollywood Blvd 4100 Hollywood Blvd, 33021 13,169 1998
3702 Washington Street 3702 Washington Street, 33021 43,606 1994
3500 North 28th Terrace 3500 North 28th Terrace, 33020 10,341 1994
Emerald Lake Corporate Park - 3109 Stirling Road 3109 Stirling Road, 33312 18,920 1992

Worth noting among recent office completions on the Hollywood market is Icon Office Building, which is currently the largest new office development in the city, at 72,000 square feet.

Data provided by Commercial Edge

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.