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

Largest Office Properties Recently Completed in Hollywood
Office building Address Sqft Completed
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.

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.