2024 Office Space Rent & Sales
- $16.52 2024 Avg. Asking Rent
- 18.18% 2024 Office Vacancy Rate
South Bend office price per square foot in 2024 was $16.52 on average. The local office market recorded an average vacancy rate of 18.18% 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
- Indiana Class A & A+ Office Space$25.33
- Indiana Class B Office Space$18.68
- Indiana Class C Office Space$20.61
South Bend, IN Office Asking Rents by Class
2024 Office Vacancy Rates in South Bend
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Mishawaka | $20.84 | 11.67% |
| East South Bend | $19.55 | 7.05% |
| Downtown South Bend | $17.83 | 19.73% |
| West South Bend | $12.28 | 37.45% |
Office Spaces for Rent in Indiana
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Coworking Spaces in Indiana
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2024 Office Construction in South Bend, IN
- South Bend, IN Total SF under construction in 2025 55,840
| Office building | Address | SF | Completed |
|---|---|---|---|
| Catalyst One & Two | 460 Stull Street , 46601 | 48,943 | 2016 |
| 5760 Nimtz Pkwy | 5760 Nimtz Pkwy, 46628 | 8,719 | 2015 |
| 505 E Ireland Rd | 505 E Ireland Rd, 46614 | 3,721 | 2006 |
| Blackthorn Corporate Park - 3575 Moreau Court | 3575 Moreau Court, 46628 | 78,790 | 1998 |
| South Street Station | 100 W. South St., 46601 | 9,600 | 1997 |
| 5521 W. Cleveland Rd. | 5521 W. Cleveland Rd., 46628 | 11,020 | 1996 |
| Leighton Plaza | 130 S. Main St., 46601 | 63,780 | 1990 |
| Parkview Atrium | 300 S. St. Louis Blvd., 46617 | 36,521 | 1989 |
| 310 N Ironwood Dr | 310 N Ironwood Dr, 46615 | 3,928 | 1989 |
| 310 N Ironwood Dr | 310 N Ironwood Dr, 46615 | 3,928 | 1989 |
Worth noting among recent office completions on the South Bend market is Catalyst One & Two, which is currently the largest new office development in the city, at 48,943 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 South Bend 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.