2021 Office Space Rent & Sales
- $23.83 2021 Avg. Asking Rent
- -1.45% Y-o-Y Avg. Asking Rent Change
- 23.77% 2021 Office Vacancy Rate
- $108.1M2021 Total Office Sales
- $99.56Avg. Sale Price/SF
St. Petersburg office price per square foot in 2021 was $23.83 on average. This marked a -1.45% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 23.77% across all asset classes combined. The 7 transactions that closed here throughout 2021 amounted to a total sale volume of $108.1M. St. Petersburg office space commanded an average sale price per square foot of $99.56.
Average Rent by Office Class
2021 Average Office Rent per Square Foot
- St. Petersburg Class A & A+ Office Space$27.25
- St. Petersburg Class B Office Space$21.10
- St. Petersburg Class C Office Space$18.67
- Florida Class A & A+ Office Space$37.47
- Florida Class B Office Space$24.12
- Florida Class C Office Space$18.87
St. Petersburg, FL Office Asking Rents by Class
Average office rent in St. Petersburg rested at $23.83 per square foot in 2021. 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 St. Petersburg averaged $27.25 per square foot. Across all submarkets, class B office space recorded an average asking rent of $21.10 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $18.67 per square foot, on average. Comparably, statewide Florida average office rents by class in 2021 were: $37.47 per square foot for class A office space; $24.12 per square foot for class B office space; $18.87 per square foot for class C office space.
2021 Office Vacancy Rates in St. Petersburg
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Gateway | $24.26 | 37.21% |
St Petersburg | $22.89 | 16.48% |
St. Petersburg Office Sale Price per SF
- $99.562021 Avg. Price per SF
- -24.85%Y-o-Y Avg. PpSF Change
- $108.1M2021 Office Sales Volume
- 72021 Number of Transactions
St. Petersburg, FL Sale Price per SF Trend
- St. Petersburg Avg. Sale Price per SF in 2021$99.56
- Florida Avg. Sale Price per SF in 2021$236.19
2021 Office Sales Volume
- St. Petersburg, FL Total Office Sales Volume in 2021 $108.1M
- St. Petersburg, FL Total Number of Office Sales Closed in 2021 7
Largest St. Petersburg Office Sales in 2021
Property name | Address | Date | Price |
---|---|---|---|
3201 34th Street South | 3201 34th Street South | 12/16/2021 | $40,000,000 |
Priatek Plaza | 200 Central Avenue | 12/29/2021 | $20,450,000 |
Carillon Park - 100 Carillon Pkwy | 100 Carillon Pkwy | 9/29/2021 | $19,000,000 |
Pinellas Business Center - Buildings I & III | 11001 Roosevelt Blvd North | 5/10/2021 | $12,555,200 |
Pinellas Business Center - Building II | 10901 Roosevelt Blvd North | 5/10/2021 | $7,369,798 |
Coworking Spaces in Florida
- Miami Coworking Space
- Tampa Coworking Space
- Orlando Coworking Space
- Fort Lauderdale Coworking Space
- Jacksonville Coworking Space
- Boca Raton Coworking Space
- West Palm Beach Coworking Space
- Coral Gables Coworking Space
- Miami Beach Coworking Space
- Doral Coworking Space
- St. Petersburg Coworking Space
- Hollywood Coworking Space
- Weston Coworking Space
- Fort Myers Coworking Space
- Lake Mary Coworking Space
- Tallahassee Coworking Space
- Aventura Coworking Space
- Coral Springs Coworking Space
- Boynton Beach Coworking Space
- Pembroke Pines Coworking Space
2021 Office Construction in St. Petersburg, FL
Office building | Address | SF | Completed |
---|---|---|---|
Ascent Retail | 201 1st Ave N, 33701 | 200,000 | 2022 |
Bayboro 625 South | 625 6th Avenue South, 33701 | 96,626 | 2008 |
299 1st Avenue North | 299 1st Avenue North, 33701 | 212,000 | 2006 |
St. Anthony’s Medical Arts Building | 560 Jackson Street North, 33705 | 50,000 | 2006 |
Roosevelt III | 11101 Roosevelt Blvd North, 33716 | 169,000 | 2003 |
Blue Heron Technology Center | 11208 Blue Heron Blvd. N., 33716 | 0 | 2000 |
Castille at Carillon | 400 Carillon Pkwy, 33716 | 138,799 | 1999 |
570 Carillon Parkway | 570 Carillon Parkway, 33716 | 234,709 | 1998 |
Roosevelt Technology Center | 11399 16th Court N, 33716 | 0 | 1998 |
Roosevelt Technology Center | 11399 16th Court North, 33716 | 108,839 | 1996 |
Worth noting among recent office completions on the St. Petersburg market is Ascent Retail, which is currently the largest new office development in the city, at 200,000 square feet.
See reports for other markets
- Miami Office Rent Price
- Jacksonville Office Rent Price
- Tampa Office Rent Price
- Fort Lauderdale Office Rent Price
- Orlando Office Rent Price
- West Palm Beach Office Rent Price
- Boca Raton Office Rent Price
- Tallahassee Office Rent Price
- Sarasota Office Rent Price
- Hollywood Office Rent Price
- Miami Beach Office Rent Price
- Lakeland Office Rent Price
- Clearwater Office Rent Price
- Temple Terrace Office Rent Price
- Austin Office Rent Price
- San Antonio Office Rent Price
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 2021 through December 31st 2021. Construction pipeline data represented herein is valid as of April 2022. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all St. Petersburg 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.