2023 Office Space Rent & Sales
- $27.38 2023 Avg. Asking Rent
- 0.19% Y-o-Y Avg. Asking Rent Change
- 23.25% 2023 Office Vacancy Rate
Sandy Springs office price per square foot in 2023 was $27.38 on average. This marked a +0.19% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 23.25% across all asset classes combined.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Sandy Springs Class A & A+ Office Space$27.54
- Sandy Springs Class B Office Space$21.05
- Sandy Springs Class C Office Space$42.13
- Georgia Class A & A+ Office Space$34.44
- Georgia Class B Office Space$22.70
- Georgia Class C Office Space$31.34
Sandy Springs, GA Office Asking Rents by Class
Average office rent in Sandy Springs rested at $27.38 per square foot in 2023. 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 Sandy Springs averaged $27.54 per square foot. Across all submarkets, class B office space recorded an average asking rent of $21.05 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $42.13 per square foot, on average. Comparably, statewide Georgia average office rents by class in 2023 were: $34.44 per square foot for class A office space; $22.70 per square foot for class B office space; $31.34 per square foot for class C office space.
2023 Office Vacancy Rates in Sandy Springs
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Perimeter North | $31.73 | 18.07% |
Northwest 285 | $26.41 | 16.58% |
Coworking Spaces in Georgia
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2023 Office Construction in Sandy Springs, GA
Office building | Address | SF | Completed |
---|---|---|---|
901 Abernathy Rd | 901 Abernathy Rd, 30328 | 1,428 | 2008 |
Doctors Center 4 | 5673 Peachtree Dunwoody Road NE, 30342 | 208,546 | 2003 |
One Glenlake | 1 Glenlake Pkwy NE, 30328 | 351,000 | 2002 |
Mount Vernon Place | 6303 Barfield Road NE, 30328 | 240,000 | 2001 |
Glenridge Highlands Two | 5565 Glenridge Connector NE, 30342 | 426,495 | 2000 |
Perimeter Center West | 1155 Perimeter Center West, 30338 | 310,194 | 2000 |
10 Glenlake South Tower | 10 Glenlake Pkwy NE, 30328 | 257,698 | 2000 |
Northridge Plaza | 8200 Roberts Drive, 30350 | 128,000 | 2000 |
Northpark 600 | 1200 Abernathy Road, 30328 | 425,729 | 1998 |
Palisades Office Park - D | 5909 Peachtree Dunwoody Road NE, 30328 | 261,430 | 1998 |
Worth noting among recent office completions on the Sandy Springs market is 901 Abernathy Rd, which is currently the largest new office development in the city, at 1,428 square feet.
See reports for other markets
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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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Sandy Springs 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.