Highlights
- The average rent for office space in South Bend is $19.94 per square foot, 20.70% higher compared to the previous year.
- The market’s vacancy rate stands at 21.45%, higher than the state average of Indiana, which is 15.90%.
2025 Office Space Rent & Sales
- $19.94 2025 Avg. Asking Rent
- 20.70% Y-o-Y Avg. Asking Rent Change
- 21.45% 2025 Office Vacancy Rate
What is the average asking rent price for office space in South Bend?
Average asking rents for office space here stand at $19.94 per square foot. The local office market recorded an average vacancy rate of 21.45% in 2025, unchanged from 21.45% in 2024.
South Bend, IN Office Asking Rents by Class
What is the average office rent per square foot by property class in IN?
- Avg. Asking Rent Class A & A+$26.78
- Avg. Asking Rent Class B$19.27
- Avg. Asking Rent Class C$15.47
For comparison, the average rent for Class A and A+ office space in Indiana was $26.78 per square foot. The state-wide average for Class B space was $19.27 per square foot, and Class C office spaces averaged $15.47 per square foot.
South Bend, IN Office Indicators by Submarket
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Mishawaka | $20.36 | 9.34% |
| Downtown South Bend | $19.95 | 29.43% |
| East South Bend | $18.00 | 4.34% |
| West South Bend | $12.46 | 19.75% |
2025 Office Construction in South Bend, IN
- South Bend, IN Total SF completed in 2025 55,840
How much office space was built in South Bend in 2025?
What are the largest recent office completions in South Bend?
The largest recent office completion here is The Studebaker Innovation Center - Building 113 at 177,372 square feet, completed in 1934. The next largest completions are Jefferson Centre and South Bend.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Blackthorn Corporate Park - 3575 Moreau Court | 3575 Moreau Court, 46628 | 78,790 | 1998 |
| South Bend | 100 North Michigan Street, 46601 | 149,029 | 1982 |
| 319 North Niles Avenue | 319 North Niles Avenue, 46617 | 9,104 | 1956 |
| The Studebaker Innovation Center - Building 113 | 635 South Lafayette Blvd, 46601 | 177,372 | 1934 |
| Jefferson Centre | 105 East Jefferson Blvd, 46601 | 150,384 | 1921 |
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Disclaimer
All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.
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 Yardi Research Data can guarantee that the information provided is complete.