Lafayette Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $16.73 2024 Avg. Asking Rent
  • 8.83% 2024 Office Vacancy Rate
  • $10.5M2024 Total Office Sales
  • $86.79Avg. Sale Price/SF

Lafayette office price per square foot in 2024 was $16.73 on average. The local office market recorded an average vacancy rate of 8.83% across all asset classes combined. The 3 transactions that closed here throughout 2024 amounted to a total sale volume of $10.5M. Lafayette office space commanded an average sale price per square foot of $86.79.

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

  • Louisiana Class A & A+ Office Space$18.41
  • Louisiana Class B Office Space$19.03
  • Louisiana Class C Office Space$16.94

Lafayette, LA Office Asking Rents by Class

2024 Office Vacancy Rates in Lafayette

Submarket Asking Rents Vacancy Rates
Lafayette - North $18.00 1.50%
Lafayette - Central $17.66 12.26%
Lafayette - Southeast $17.29 12.26%
Lafayette - West $10.18 7.41%
Data provided by Commercial Edge
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 Lafayette market was 8.83% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Lafayette was 1.50% in the Lafayette - North submarket, while the highest office vacancy in the market was 12.26%, recorded in Lafayette - Southeast.

Office Spaces for Rent in Louisiana

Lafayette Office Sale Price per SF

  • $86.792024 Avg. Price per SF
  • 19.00%Y-o-Y Avg. PpSF Change
  • $10.5M2024 Office Sales Volume
  • 32024 Number of Transactions

Lafayette, LA Sale Price per SF Trend

  • Lafayette Avg. Sale Price per SF in 2024$86.79
  • Louisiana Avg. Sale Price per SF in 2024$92.94
Lafayette office space cost in 2024 marked a +19.00% change compared to the previous year. The sale price for office space in Lafayette averaged $86.79 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Louisiana average office sale price during the same time period was $92.94 per square foot.

2024 Office Sales Volume

  • Lafayette, LA Total Office Sales Volume in 2024 $10.5M
  • Lafayette, LA Total Number of Office Sales Closed in 2024 3
A total of 3 deals closed on the Lafayette office market in 2024, adding up to a yearly sales volume of $10.5M. Notably, the largest transaction on the market saw 425 Settlers Trace Blvd change hands for $4,655,000 on 5/10/2024.
Data provided by Commercial Edge

Coworking Spaces in Louisiana

2024 Office Construction in Lafayette, LA

  • Lafayette, LA Total SF under construction in 2025 31,036
Largest Office Properties Recently Completed in Lafayette
Office building Address SF Completed
James Devin Moncus Building 4809 Ambassador Caffery Parkway, 70508 99,055 2010
2901 Johnston St - A&M Commerce Center 2901 Johnston Street, 70503 48,454 1999
Parkway Plaza 201 Energy Pkwy, 70508 104,411 1983
The Financial Center 2701 Johnston Street, 70503 43,347 1983
2801 Kaliste Saloom Rd 2801 Kaliste Saloom Rd, 70508 11,264 1981
2801 Kaliste Saloom Rd 2801 Kaliste Saloom Rd, 70508 11,264 1981
5715 Johnston St 5715 Johnston St, 70503 195,992 1979
2201 W. Congress Street, 2201 W. Congress Street,, 70506 4,494 1977
Gordon Square 100 E Vermilion St, 70501 47,722 1904
Highly-Visible Office Portfolio with Immediate Income 100 Beauvais Ave, 505 Loire Ave, 70507 34,020 1860

Worth noting among recent office completions on the Lafayette market is James Devin Moncus Building, which is currently the largest new office development in the city, at 99,055 square feet.

Data provided by Commercial Edge

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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 Lafayette 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.