Alpharetta Office Rent Price & Sales Report

2020 Office Space Rent & Sales

  • $25.79 2020 Avg. Asking Rent
  • 1.45% Y-o-Y Avg. Asking Rent Change
  • 17.08% 2020 Office Vacancy Rate
  • $62M2020 Total Office Sales
  • $98.32Avg. Sale Price/SF

Alpharetta office price per square foot in 2020 was $25.79 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 17.08% across all asset classes combined. The 6 transactions that closed here throughout 2020 amounted to a total sale volume of $62M. Alpharetta office space commanded an average sale price per square foot of $98.32.

Average Rent by Office Class

2020 Average Office Rent per Square Foot

  • Alpharetta Class A Office Space$26.73
  • Alpharetta Class B Office Space$20.24
  • Alpharetta Class C Office Space$20.06
  • Georgia Class A Office Space$30.31
  • Georgia Class B Office Space$21.23
  • Georgia Class C Office Space$16.05

Alpharetta, GA Office Asking Rents by Class

Average office rent in Alpharetta rested at $25.79 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 Alpharetta averaged $26.73 per square foot. Across all submarkets, class B office space recorded an average asking rent of $20.24 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $20.06 per square foot, on average. Comparably, statewide Georgia average office rents by class in 2020 were: $30.31 per square foot for class A office space; $21.23 per square foot for class B office space; $16.05 per square foot for class C office space.

2020 Office Vacancy Rates in Alpharetta

Submarket Asking Rents Vacancy Rates
Alpharetta $26.05 17.07%
Johns Creek $20.14 18.81%
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 Alpharetta market was 17.08% in 2020. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Alpharetta was 17.07% in the Alpharetta submarket, while the highest office vacancy in the market was 18.81%, recorded in Johns Creek.

Office Spaces for Rent in Georgia

Alpharetta Office Sale Price per SF

  • $98.322020 Avg. Price per SF
  • -34.78%Y-o-Y Avg. PpSF Change
  • $62M2020 Office Sales Volume
  • 62020 Number of Transactions

Alpharetta, GA Sale Price per SF Trend

  • Alpharetta Avg. Sale Price per SF in 2020$98.32
  • Georgia Avg. Sale Price per SF in 2020$165.65
Alpharetta office space cost in 2020 marked a -34.78% change compared to the previous year. The sale price for office space in Alpharetta averaged $98.32 per square foot in 2020, across all market subdivisions and asset classes. Conversely, the statewide Georgia average office sale price during the same time period was $165.65 per square foot.

2020 Office Sales Volume

  • Alpharetta, GA Total Office Sales Volume in 2020 $62M
  • Alpharetta, GA Total Number of Office Sales Closed in 2020 6
A total of 6 deals closed on the Alpharetta office market in 2020, adding up to a yearly sales volume of $62M. Notably, the largest transaction on the market saw Mansell Two change hands for $19,606,570 on 1/28/2020.

Largest Alpharetta Office Sales in 2020

Property name Address Date Price
Mansell Two 3650 Mansell Road 1/28/2020 $19,606,570
Mansell One 3700 Mansell Road 1/28/2020 $16,988,430
Radiant II 3905 Brookside Pkwy 11/23/2020 $9,712,200
Meadows Corporate Campus - 6435 Shiloh Road 6435 Shiloh Road 5/15/2020 $7,325,000
11940 Alpharetta Hwy 11940 Alpharetta Hwy 10/29/2020 $4,700,000
Data provided by Commercial Edge

2020 Office Construction in Alpharetta, GA

  • Alpharetta, GA Total SF completed in 2020 430,016
  • Alpharetta, GA Total SF under construction in 2021 248,000

During 2020, 430,016 square feet of new office space were delivered across the market. At the close of 2020, the Alpharetta office inventory included 5 buildings equal to or larger than 25,000 square feet, which comprised 430,016 square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 248,000 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Alpharetta
Office building Address SF Completed
Edison Lakeview 900 Lake Street, 30009 250,000 2022
360 Tech Village - Building 2 2275 Lakeview Pkwy, 30009 109,182 2022
The Halcyon - Building 1100 6365 Halcyon Way, 30005 58,272 2022
Parkway 400 3050 Northwinds Pkwy, 30009 46,000 2022
100 North Main Street 100 North Main Street, 30009 28,100 2022
Kimball Place 100 Kimball Place, 30009 128,000 2021
Crabapple Market West 12650 Crabapple Road, 30004 55,454 2021
10000 Avalon 10000 Avalon Blvd, 30009 251,000 2020
The Edison - Building 2 1 Edison Drive, 30022 107,991 2020
55 & 61 Roswell Street 55 Roswell Street, 30009 56,000 2020

Worth noting among recent office completions on the Alpharetta market is Edison Lakeview, which is currently the largest new office development in the city, at 250,000 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 Alpharetta 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.