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)
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
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 |
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 |
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 |
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.