2020 Office Space Rent & Sales
- $26.73 2020 Avg. Asking Rent
- 2.16 % Y-o-Y Avg. Asking Rent Change
- 8.75 % 2020 Office Vacancy Rate
Sarasota office price per square foot in 2020 was $26.73 on average. This marked a +2.16 % change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 8.75 % across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Sarasota Class A Office Space$27.57
- Sarasota Class B Office Space$25.94
- Sarasota Class C Office Space$21.26
- Florida Class A Office Space$37.78
- Florida Class B Office Space$23.96
- Florida Class C Office Space$18.38
Sarasota, FL Office Asking Rents by Class
Average office rent in Sarasota rested at $26.73 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 Sarasota averaged $27.57 per square foot. Across all submarkets, class B office space recorded an average asking rent of $25.94 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $21.26 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 Construction in Sarasota, FL
- Sarasota, FL Total Sqft under construction in 2021 37,000
|Waterside Place - Offices||SEC Deer Drive & Halcyon Trail, 34240||97,000||2021|
|6530 Sawyer Loop Road||6530 Sawyer Loop Road, 34238||26,854||2019|
|Sabal Palm Plaza||1950 Ringling Blvd, 34236||32,000||2017|
|Integraclick Professional Park - 5901 North Honore Avenue||5901 North Honore Avenue, 34243||44,000||2008|
|Integraclick Professional Park - 5911 North Honore Avenue||5911 North Honore Avenue, 34243||35,461||2008|
|Lake Osprey Building at Lakewood Ranch||6230 University Pkwy, 34240||34,103||2008|
|Energy Court Center at Lakewood Ranch||5391 Lakewood Ranch Blvd North, 34240||26,552||2008|
|Institute for Advanced Medicine||5880 Rand Blvd, 34238||92,998||2007|
|Clark Station Office Park||5100 Station Way, 34233||46,000||2007|
|1858 Ringling Blvd||1858 Ringling Blvd, 34236||28,200||2007|
Worth noting among recent office completions on the Sarasota market is Waterside Place - Offices, which is currently the largest new office development in the city, at 97,000 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 Sarasota 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.