2022 Office Space Rent & Sales
- $20.38 2022 Avg. Asking Rent
- 1.13% Y-o-Y Avg. Asking Rent Change
- 15.22% 2022 Office Vacancy Rate
- $53.9M2022 Total Office Sales
- $36.00Avg. Sale Price/SF
Tallahassee office price per square foot in 2022 was $20.38 on average. This marked a +1.13% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 15.22% across all asset classes combined. The 22 transactions that closed here throughout 2022 amounted to a total sale volume of $53.9M. Tallahassee office space commanded an average sale price per square foot of $36.00.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Tallahassee Class A & A+ Office Space$23.11
- Tallahassee Class B Office Space$20.39
- Tallahassee Class C Office Space$14.69
- Florida Class A & A+ Office Space$35.94
- Florida Class B Office Space$26.81
- Florida Class C Office Space$19.09
Tallahassee, FL Office Asking Rents by Class
Average office rent in Tallahassee rested at $20.38 per square foot in 2022. 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 Tallahassee averaged $23.11 per square foot. Across all submarkets, class B office space recorded an average asking rent of $20.39 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $14.69 per square foot, on average. Comparably, statewide Florida average office rents by class in 2022 were: $35.94 per square foot for class A office space; $26.81 per square foot for class B office space; $19.09 per square foot for class C office space.
2022 Office Vacancy Rates in Tallahassee
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Tallahassee - Downtown | $28.12 | 13.53% |
Tallahassee - Northeast | $24.49 | 7.15% |
Tallahassee - East | $23.27 | 2.69% |
Tallahassee - Koger Center | $22.23 | 17.82% |
Tallahassee - Northwest | $21.00 | 38.43% |
Tallahassee - West | $19.17 | 1.29% |
Tallahassee - North | $17.66 | 56.46% |
Tallahassee - Southeast | $16.26 | 7.78% |
Tallahassee Office Sale Price per SF
- $36.002022 Avg. Price per SF
- $53.9M2022 Office Sales Volume
- 222022 Number of Transactions
Tallahassee, FL Sale Price per SF Trend
- Tallahassee Avg. Sale Price per SF in 2022$36.00
- Florida Avg. Sale Price per SF in 2022$234.16
2022 Office Sales Volume
- Tallahassee, FL Total Office Sales Volume in 2022 $53.9M
- Tallahassee, FL Total Number of Office Sales Closed in 2022 22
Largest Tallahassee Office Sales in 2022
Property name | Address | Date | Price |
---|---|---|---|
City Centre | 227 North Bronough Street | 2/14/2022 | $13,600,000 |
Winewood Office Park | 1317 Winewood Blvd | 6/16/2022 | $7,102,000 |
2600 Centennial Place | 2600 Centennial Place | 3/8/2022 | $4,000,000 |
2255 Killearn Center Blvd | 2255 Killearn Center Blvd | 3/16/2022 | $3,950,000 |
Coworking Spaces in Florida
- Houston Coworking Space
- Atlanta Coworking Space
- Dallas Coworking Space
- Miami Coworking Space
- Austin Coworking Space
- Nashville Coworking Space
- Charlotte Coworking Space
- Raleigh Coworking Space
- Tampa Coworking Space
- Jacksonville Coworking Space
- Orlando Coworking Space
- Boca Raton Coworking Space
- Fort Lauderdale Coworking Space
- Memphis Coworking Space
- West Palm Beach Coworking Space
- Durham Coworking Space
- Birmingham Coworking Space
- New Orleans Coworking Space
- Alpharetta Coworking Space
- Chattanooga Coworking Space
- Miami Beach Coworking Space
2022 Office Construction in Tallahassee, FL
- Tallahassee, FL Total SF under construction in 2023 65,200
Office building | Address | SF | Completed |
---|---|---|---|
2459 Mahan Dr | 2459 Mahan Dr, 32308 | 20,222 | 2020 |
1760 Summit Lake Drive | 1760 Summit Lake Drive, 32317 | 40,400 | 2018 |
Summit East Technology Park - Northview Building | 2082 Summit Lake Drive, 32317 | 40,516 | 2012 |
Summit East Technology Park - United Solutions Building | 1585 Summit Lake Dr, 32317 | 10,800 | 2010 |
Alliance Center - 3rd, 4th & 5th Floors | 119 S Monroe Street, 32301 | 76,000 | 2009 |
1591 Summit Lake Dr | 1591 Summit Lake Dr, 32317 | 18,624 | 2007 |
3664 Coolidge Court For Sale or Lease | 3664 Coolidge Court, 32311 | 17,348 | 2007 |
3664 Coolidge Court For Sale or Lease | 3664 Coolidge Court, 32311 | 17,348 | 2007 |
2600 Centennial | 2600 Centennial Place, 32308 | 31,204 | 2006 |
2618 Centennial Pl | 2618 Centennial Pl, 32308 | 20,130 | 2006 |
Worth noting among recent office completions on the Tallahassee market is 2459 Mahan Dr, which is currently the largest new office development in the city, at 20,222 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
- St. Petersburg Office Rent Price
- Sarasota Office Rent Price
- Hollywood Office Rent Price
- Miami Beach Office Rent Price
- Houston Office Rent Price
- Dallas Office Rent Price
- Austin Office Rent Price
- San Francisco Office Rent Price
- New York City 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 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Tallahassee 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.