South Bend Office Rent Price & Sales Report

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%
Data provided by Yardi Research
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the South Bend market was 18.18% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in South Bend was 7.05% in the East South Bend submarket, while the highest office vacancy in the market was 37.45%, recorded in West South Bend.

Office Spaces for Rent in Indiana

Coworking Spaces in Indiana

2024 Office Construction in South Bend, IN

  • South Bend, IN Total SF under construction in 2025 55,840
Largest Office Properties Recently Completed in 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

Worth noting among recent office completions on the South Bend market is Blackthorn Corporate Park - 3575 Moreau Court, which is currently the largest new office development in the city, at 78,790 square feet.

Data provided by Yardi Research

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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 Yardi Research Data, 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 Yardi Research Data can guarantee that the information provided is complete.