2024 Office Space Rent & Sales
- $16.40 2024 Avg. Asking Rent
- -0.86% Y-o-Y Avg. Asking Rent Change
- 22.26% 2024 Office Vacancy Rate
Fort Wayne office price per square foot in 2024 was $16.40 on average. This marked a -0.86% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 22.26% across all asset classes combined.
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
- Fort Wayne Class A & A+ Office Space$18.34
- Fort Wayne Class B Office Space$16.20
- Fort Wayne Class C Office Space$8.75
- Indiana Class A & A+ Office Space$25.33
- Indiana Class B Office Space$18.68
- Indiana Class C Office Space$20.61
Fort Wayne, IN Office Asking Rents by Class
Average office rent in Fort Wayne rested at $16.40 per square foot in 2024. 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 Fort Wayne averaged $18.34 per square foot. Across all submarkets, class B office space recorded an average asking rent of $16.20 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $8.75 per square foot, on average. Comparably, statewide Indiana average office rents by class in 2024 were: $25.33 per square foot for class A office space; $18.68 per square foot for class B office space; $20.61 per square foot for class C office space.
2024 Office Vacancy Rates in Fort Wayne
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Fort Wayne - I-69 | $18.55 | 15.53% |
| Fort Wayne - IN-3 | $16.78 | 43.46% |
| Fort Wayne - Central | $16.29 | 13.25% |
| Fort Wayne - North | $15.87 | 19.31% |
| Fort Wayne - East | $14.12 | 42.88% |
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2024 Office Construction in Fort Wayne, IN
- Fort Wayne, IN Total SF completed in 2024 58,487
During 2024, 58,487 square feet of new office space were delivered across the market. At the close of 2024, the Fort Wayne office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 58,487 square feet of office space.
| Office building | Address | SF | Completed |
|---|---|---|---|
| NEW CONSTRUCTION / Siena Office Park | 9600 Lima Road, 46818 | 7,133 | 2024 |
| The Ashberry - Retail for Lease | 222 West Berry Street, 46802 | 26,435 | 2023 |
| Timberlake Park | 9307 Illinois Rd, 46804 | 11,800 | 2023 |
| Creative Office Space and warehouse at Falstaff Office Park | 2085 Humphrey Street, 46803 | 17,922 | 2019 |
| 3,406 SF Office - Hyde Park | 9522 Lima Rd., Suites 103/104, 46818 | 6,955 | 2017 |
| 6038 Huguenard Rd | 6038 Huguenard Rd, 46818 | 17,000 | 2010 |
| 7729 Westfield Dr | 7729 Westfield Dr, 46825 | 4,300 | 2008 |
| 7729 Westfield Dr | 7729 Westfield Dr, 46825 | 4,300 | 2008 |
| 2135 S. Hanna St. | 2135 S. Hanna St., 46803 | 16,770 | 2006 |
| 9071 Stellhorn Crossing Pkwy. | 9071 Stellhorn Crossing Pkwy., 46815 | 7,592 | 2006 |
Worth noting among recent office completions on the Fort Wayne market is NEW CONSTRUCTION / Siena Office Park, which is currently the largest new office development in the city, at 7,133 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 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 Fort Wayne 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.