Norcross Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $28.13 2024 Avg. Asking Rent
  • 16.67% 2024 Office Vacancy Rate
  • $46.2M2024 Total Office Sales
  • $91.89Avg. Sale Price/SF

Norcross office price per square foot in 2024 was $28.13 on average. The local office market recorded an average vacancy rate of 16.67% across all asset classes combined. The 6 transactions that closed here throughout 2024 amounted to a total sale volume of $46.2M. Norcross office space commanded an average sale price per square foot of $91.89.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Georgia Class A & A+ Office Space$36.53
  • Georgia Class B Office Space$23.47
  • Georgia Class C Office Space$17.64

Norcross, GA Office Asking Rents by Class

2024 Office Vacancy Rates in Norcross

Submarket Asking Rents Vacancy Rates
I-95 Corridor Duluth $26.84 13.83%
Peachtree Corners - Duluth $24.76 18.45%
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 Norcross market was 16.67% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Norcross was 13.83% in the I-95 Corridor Duluth submarket, while the highest office vacancy in the market was 18.45%, recorded in Peachtree Corners - Duluth.

Office Spaces for Rent in Georgia

Norcross Office Sale Price per SF

  • $91.892024 Avg. Price per SF
  • 46.07%Y-o-Y Avg. PpSF Change
  • $46.2M2024 Office Sales Volume
  • 62024 Number of Transactions

Norcross, GA Sale Price per SF Trend

  • Norcross Avg. Sale Price per SF in 2024$91.89
  • Georgia Avg. Sale Price per SF in 2024$124.92
Norcross office space cost in 2024 marked a +46.07% change compared to the previous year. The sale price for office space in Norcross averaged $91.89 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Georgia average office sale price during the same time period was $124.92 per square foot.

2024 Office Sales Volume

  • Norcross, GA Total Office Sales Volume in 2024 $46.2M
  • Norcross, GA Total Number of Office Sales Closed in 2024 6
A total of 6 deals closed on the Norcross office market in 2024, adding up to a yearly sales volume of $46.2M. Notably, the largest transaction on the market saw 6527 Jimmy Carter Blvd change hands for $12,950,000 on 9/12/2024.
Data provided by Commercial Edge

Coworking Spaces in Georgia

Largest Office Properties Recently Completed in Norcross
Office building Address SF Completed
The Offices @ Gwinnett Commons - 4155 Shackleford Road 4155 Shackleford Road, 30093 144,521 2000
Cubework Norcross 1600 Indian Brook Way, 30093 81,440 1997
Avalon Center Office Space 3145 Avalon Ridge Place, 30071 36,225 1997
4775 Jimmy Carter Blvd 4775 Jimmy Carter Blvd, 30093 11,649 1996
3100 Medlock Bridge Rd # 400 3100 Medlock Bridge Rd # 400, 30071 11,598 1990
3120 Medlock Bridge Road H-200 3120 Medlock Bridge Road H-200, 30071 9,000 1990
3120 Medlock Bridge Road - Building F 3120 Medlock Bridge Road - Building F, 30071 28,004 1989
Peachtree Medlock Corner 5380 Peachtree Industrial Blvd, 30071 22,654 1986
Governors Lakes 200 6801 Governors Lake Pkwy, 30071 102,364 1985
Governors Lakes 100 3091 Governors Lake Drive, 30071 101,052 1985

Worth noting among recent office completions on the Norcross market is The Offices @ Gwinnett Commons - 4155 Shackleford Road, which is currently the largest new office development in the city, at 144,521 square feet.

Data provided by Commercial Edge

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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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market 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.