Norcross Office Market Trends

Office Rental Market

  • $19.01 2019 Avg. Asking Rent
  • 26.80 % 2019 Avg. Vacancy Rate
  • 60,500 2019 Office Completions (Sqft)
  • 0 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Norcross was $19.01 per square foot, and the office vacancy rate across the market averaged 26.80 %. During 2019, developers added 60,500 square feet of new office space to the Norcross market inventory. Office developments estimated for delivery during 2020 total 0 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Norcross Class A Office Buildings$21.57
  • Norcross Class B Office Buildings$18.92
  • Norcross Class C Office Buildings$13.21
  • GA Class A Office Buildings$29.13
  • GA Class B Office Buildings$20.45
  • GA Class C Office Buildings$16.21

Norcross, GA Office Asking Rents by Class

Office asking rents vary across the Norcross office market depending on several factors, one of which is property class. While rents for Class A office buildings in Norcross averaged $21.57 per square foot in 2019, Class B office properties garnered average rental rates of $18.92 per square foot. Rental rates for Class C office property in Norcross averaged $13.21 per square foot. On a statewide level, Class B office space rents averaged $20.45 per square foot, while rents for Class A office space across Georgia averaged $29.13 per square foot. On average, Class C office properties in Georgia commanded rents of $16.21 per square foot.

OFFICE CONSTRUCTION IN Norcross, GA

  • Norcross, GA Total Sqft completed in 2019 60,500
  • Norcross, GA Total Sqft under construction in 2020 0
10 Largest Office Buildings in Norcross
Building name Address Total Sqft Year built
Ole Mexican Foods Headquarters 6585 NW Crescent Drive, 30071 141,670 1973
Jefferson Plaza 3169 Holcomb Bridge Road, 30071 117,054 1978
The Station 3081 Holcomb Bridge Road, 30091 110,655 1984
1626 Jeurgens Court 1626 Jeurgens Court, 30093 104,960 1986
Governors Lakes 200 6801 Governors Lake Pkwy, 30071 102,364 1985
Governors Lakes 100 3091 Governors Lake Drive, 30071 101,052 1985
Northwoods Commons 4940 Peachtree Industrial Blvd, 30071 100,590 1986
Gwinnett Park - 4311 Communications Drive 4311 Communications Drive, 30093 98,800 1980
1854 Shackleford Court 1854 Shackleford Court, 30093 94,677 1985
The Offices @ Gwinnett Commons - 1700 Corporate Drive 1700 Corporate Drive, 30093 92,046 2002
Largest Office Properties Recently Completed in Norcross
Office building Address Sqft Completed
Offices at Meeting Point 4161 Steve Reynolds Blvd, 30093 52,203 2010
Horizon at Norcross 4720 Peachtree Industrial Blvd, 30071 42,477 2008
Steve Reynolds Commons 3985 Steve Reynolds Blvd, 30093 63,840 2005
The Offices @ Gwinnett Commons - 1700 Corporate Drive 1700 Corporate Drive, 30093 92,046 2002
3025 Business Park Drive 3025 Business Park Drive, 30071 34,518 2001
6010 Atlantic Blvd 6010 Atlantic Blvd, 30071 50,600 1999
1850 Beaver Ridge Circle 1850 Beaver Ridge Circle, 30071 63,821 1998
Avalon Center Office Park - 3145 Avalon Ridge Place 3145 Avalon Ridge Place, 30071 32,600 1997
3100 Avalon Ridge Place 3100 Avalon Ridge Place, 30071 59,400 1996
United Consulting Headquarters 625 Holcomb Bridge Road, 30071 57,657 1996
Data provided by Commercial Edge

Office Spaces for Rent in Georgia

NORCROSS OFFICE SALES TRENDS

  • $53.342019 Avg. Price per Sqft
  • -51.37 %Y-o-Y Avg. PpSF Change
  • $93.2M2019 Office Sales Volume
  • 92019 Number of Transactions

In 2019, office sales in Norcross averaged $53.34 per square foot. This marked a -51.37 % decrease in office price per square foot, compared to the previous year. A total of 9 office sales closed on the Norcross office market in 2019, amounting to a total sales volume of $93.2M.

Average Office Sale Price per Sqft

Norcross, GA Sales Trends

  • Norcross Price per Sqft$53.34
  • Georgia Price per Sqft$172.86

Office Sales - Trend and Volume

  • Norcross, GA Total Office Sales Volume in 2019 $93.2M
  • Norcross, GA Total Number of Office Sales Closed in 2019 9

Largest Norcross Office Sales in 2019

Property name Address Date Price
Corners Office Park - 6575 The Corners Pkwy 6575 The Corners Pkwy NW 9/30/2019 $11,015,700
Continental Decatur 5051 Peachtree Corners Circle 2/19/2019 $10,750,000
Corners Office Park - 6525 The Corners Pkwy 6525 The Corners Pkwy NW 9/30/2019 $10,397,360
Corners Office Park - 6025 & 6075 The Corners Pkwy 6025 The Corners Pkwy NW 9/30/2019 $10,086,940
Peachtree Corners Corporate Centre 4855 Peachtree Industrial Blvd 2/19/2019 $9,000,000
Data provided by Commercial Edge

See trends for nearby markets

The Norcross office market contains an inventory of 6,118,513 square feet of office space, in 151 buildings that are equal to or larger than 25,000 square feet.

This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive knowledge on all Norcross 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.