2022 Office Space Rent & Sales
- $19.52 2022 Avg. Asking Rent
- 0.07% Y-o-Y Avg. Asking Rent Change
- 16.12% 2022 Office Vacancy Rate
- $76.7M2022 Total Office Sales
- $130.36Avg. Sale Price/SF
Norcross office price per square foot in 2022 was $19.52 on average. This marked a +0.07% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 16.12% across all asset classes combined. The 9 transactions that closed here throughout 2022 amounted to a total sale volume of $76.7M. Norcross office space commanded an average sale price per square foot of $130.36.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Norcross Class A & A+ Office Space$23.00
- Norcross Class B Office Space$17.66
- Norcross Class C Office Space$17.61
- Georgia Class A & A+ Office Space$34.06
- Georgia Class B Office Space$22.67
- Georgia Class C Office Space$16.82
Norcross, GA Office Asking Rents by Class
Average office rent in Norcross rested at $19.52 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 Norcross averaged $23.00 per square foot. Across all submarkets, class B office space recorded an average asking rent of $17.66 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $17.61 per square foot, on average. Comparably, statewide Georgia average office rents by class in 2022 were: $34.06 per square foot for class A office space; $22.67 per square foot for class B office space; $16.82 per square foot for class C office space.
2022 Office Vacancy Rates in Norcross
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
I-95 Corridor Duluth | $21.98 | 13.92% |
Peachtree Corners - Duluth | $19.46 | 18.62% |
Norcross Office Sale Price per SF
- $130.362022 Avg. Price per SF
- -7.77%Y-o-Y Avg. PpSF Change
- $76.7M2022 Office Sales Volume
- 92022 Number of Transactions
Norcross, GA Sale Price per SF Trend
- Norcross Avg. Sale Price per SF in 2022$130.36
- Georgia Avg. Sale Price per SF in 2022$195.84
2022 Office Sales Volume
- Norcross, GA Total Office Sales Volume in 2022 $76.7M
- Norcross, GA Total Number of Office Sales Closed in 2022 9
Largest Norcross Office Sales in 2022
Property name | Address | Date | Price |
---|---|---|---|
Spalding Triangle Office Park - 5335 Triangle Pkwy | 5335 Triangle Pkwy NW | 7/12/2022 | $26,725,000 |
Northwoods Commons | 4940 Peachtree Industrial Blvd | 2/3/2022 | $12,700,000 |
Governors Lakes 200 | 6801 Governors Lake Pkwy | 11/16/2022 | $7,485,150 |
5500 Oakbrook Pkwy | 5500 Oakbrook Pkwy | 9/8/2022 | $6,875,000 |
Gwinnett Park - 4250 International Blvd | 4250 International Blvd | 3/21/2022 | $5,820,000 |
Coworking Spaces in Georgia
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2022 Office Construction in Norcross, GA
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 |
3120 Medlock Bridge Road - Building F | 3120 Medlock Bridge Road - Building F, 30071 | 28,004 | 1989 |
2755 Northwoods Pkwy | 2755 Northwoods Pkwy, 30071 | 48,270 | 1986 |
2975 & 2995 Courtyards Drive | 2995 Courtyards Drive, 30071 | 43,342 | 1986 |
Governors Lakes 200 | 6801 Governors Lake Pkwy, 30071 | 102,364 | 1985 |
704 Holcomb Bridge Road Bldg 1 | 704 Holcomb Bridge Road, 30071 | 1,092 | 1985 |
Peachtree Corners Commerce Park | 3000 - 3070 Business Park Drive, 30071 | 158,919 | 1984 |
The Station | 3081 Holcomb Bridge Road, 30091 | 110,655 | 1984 |
The Green at Northwoods | 3000 Northwoods Pkwy, 30071 | 110,398 | 1984 |
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.
See reports for other markets
- Atlanta Office Rent Price
- Alpharetta Office Rent Price
- Sandy Springs Office Rent Price
- Marietta Office Rent Price
- Duluth Office Rent Price
- Peachtree Corners Office Rent Price
- Denver Office Rent Price
- San Francisco Office Rent Price
- San Antonio Office Rent Price
- Seattle Office Rent Price
- Dallas Office Rent Price
- Austin Office Rent Price
- Chicago Office Rent Price
- Los Angeles Office Rent Price
- Houston Office Rent Price
- Phoenix 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 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.