Marietta Office Rent Price & Sales Report

2020 Office Space Rent & Sales

  • $21.62 2020 Avg. Asking Rent
  • 9.65% 2020 Office Vacancy Rate
  • $69.6M2020 Total Office Sales
  • $151.41Avg. Sale Price/SF

Marietta office price per square foot in 2020 was $21.62 on average. The local office market recorded an average vacancy rate of 9.65% across all asset classes combined. The 6 transactions that closed here throughout 2020 amounted to a total sale volume of $69.6M. Marietta office space commanded an average sale price per square foot of $151.41.

Average Rent by Office Class

2020 Average Office Rent per Square Foot

  • Marietta Class A Office Space$26.61
  • Marietta Class B Office Space$19.90
  • Marietta Class C Office Space$17.17
  • Georgia Class A Office Space$30.31
  • Georgia Class B Office Space$21.23
  • Georgia Class C Office Space$16.05

Marietta, GA Office Asking Rents by Class

Average office rent in Marietta rested at $21.62 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 Marietta averaged $26.61 per square foot. Across all submarkets, class B office space recorded an average asking rent of $19.90 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $17.17 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 Marietta

Submarket Asking Rents Vacancy Rates
Kennesaw $22.37 9.91%
Galleria $21.23 9.92%
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 Marietta market was 9.65% in 2020. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Marietta was 9.91% in the Kennesaw submarket, while the highest office vacancy in the market was 9.92%, recorded in Galleria.

Office Spaces for Rent in Georgia

Marietta Office Sale Price per SF

  • $151.412020 Avg. Price per SF
  • 30.55%Y-o-Y Avg. PpSF Change
  • $69.6M2020 Office Sales Volume
  • 62020 Number of Transactions

Marietta, GA Sale Price per SF Trend

  • Marietta Avg. Sale Price per SF in 2020$151.41
  • Georgia Avg. Sale Price per SF in 2020$165.65
Marietta office space cost in 2020 marked a +30.55% change compared to the previous year. The sale price for office space in Marietta averaged $151.41 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

  • Marietta, GA Total Office Sales Volume in 2020 $69.6M
  • Marietta, GA Total Number of Office Sales Closed in 2020 6
A total of 6 deals closed on the Marietta office market in 2020, adding up to a yearly sales volume of $69.6M. Notably, the largest transaction on the market saw Cobb Corporate Center change hands for $20,760,000 on 8/14/2020.

Largest Marietta Office Sales in 2020

Property name Address Date Price
Cobb Corporate Center 350 Franklin Gateway SE 8/14/2020 $20,760,000
Tower Road Medical Office Building 400 Tower Road NE 8/3/2020 $20,451,800
Kenmar Medical Center 833 Campbell Hill Street 2/20/2020 $11,965,100
White Water Plaza 220 North Cobb Pkwy 2/20/2020 $6,514,000
Northchase Office Park - 1130 Northchase Pkwy 1130 Northchase Pkwy SE 4/6/2020 $6,309,800
Data provided by Commercial Edge

2020 Office Construction in Marietta, GA

  • Marietta, GA Total SF completed in 2020 152,612

During 2020, 152,612 square feet of new office space were delivered across the market. At the close of 2020, the Marietta office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 152,612 square feet of office space.

Largest Office Properties Recently Completed in Marietta
Office building Address SF Completed
The Edison Chastain 3054 Chastain Meadows Pkwy, 30066 152,612 2020
Genuine Parts Headquarters 2999 Wildwood Pkwy, 30339 171,000 2016
East Cobb Medical Center 4800 Olde Towne Pkwy, 30068 100,000 2016
Wellstar East Cobb Health Park 3747 Roswell Road NE, 30062 162,000 2014
835 Cogburn Avenue NW 835 Cogburn Avenue NW, 30060 30,016 2014
3074 Chastain Meadows Pkwy 3074 Chastain Meadows Pkwy, 30066 79,992 2012
Wellstar Kennestone Hospital - Outpatient Pavilion 677 Church Street, 30060 129,168 2010
3672 Marathon Circle 3672 Marathon Circle, 30106 39,218 2009
111 Marble Mill Road NW 111 Marble Mill Road NW, 30060 33,390 2009
Tower Road Medical Office Building 400 Tower Road NE, 30060 45,000 2008

Worth noting among recent office completions on the Marietta market is The Edison Chastain, which is currently the largest new office development in the city, at 152,612 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 Marietta 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.