Billerica Office Rent Price & Sales Report

2020 Office Space Rent & Sales

  • $24.90 2020 Avg. Asking Rent
  • 20.33% 2020 Office Vacancy Rate
  • $100.8M2020 Total Office Sales
  • $125.74Avg. Sale Price/SF

Billerica office price per square foot in 2020 was $24.90 on average. The local office market recorded an average vacancy rate of 20.33% across all asset classes combined. The 5 transactions that closed here throughout 2020 amounted to a total sale volume of $100.8M. Billerica office space commanded an average sale price per square foot of $125.74.

Average Rent by Office Class

2020 Average Office Rent per Square Foot

  • Billerica Class B Office Space$24.90
  • Massachusetts Class A Office Space$46.89
  • Massachusetts Class B Office Space$30.93
  • Massachusetts Class C Office Space$24.25

Billerica, MA Office Asking Rents by Class

Billerica Office Sale Price per SF

  • $125.742020 Avg. Price per SF
  • $100.8M2020 Office Sales Volume
  • 52020 Number of Transactions

Billerica, MA Sale Price per SF Trend

  • Billerica Avg. Sale Price per SF in 2020$125.74
  • Massachusetts Avg. Sale Price per SF in 2020$459.05
The sale price for office space in Billerica averaged $125.74 per square foot in 2020, across all market subdivisions and asset classes. Conversely, the statewide Massachusetts average office sale price during the same time period was $459.05 per square foot.

2020 Office Sales Volume

  • Billerica, MA Total Office Sales Volume in 2020 $100.8M
  • Billerica, MA Total Number of Office Sales Closed in 2020 5
A total of 5 deals closed on the Billerica office market in 2020, adding up to a yearly sales volume of $100.8M. Notably, the largest transaction on the market saw Middlesex Technology Center - Building 1 change hands for $42,500,000 on 1/31/2020.

Largest Billerica Office Sales in 2020

Property name Address Date Price
Middlesex Technology Center - Building 1 900 Middlesex Turnpike 1/31/2020 $42,500,000
Concord Road Corporate Center 300 Concord Road 11/25/2020 $12,500,000
Middlesex Technology Center - Building 2 900 Middlesex Turnpike 12/30/2020 $11,050,000
Manning Park - 44 Manning Road 44 Manning Road 2/26/2020 $6,700,000
Data provided by Commercial Edge

2020 Office Construction in Billerica, MA

  • Billerica, MA Total SF completed in 2020
  • Billerica, MA Total SF under construction in 2021 145,000

During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Billerica office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 145,000 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Billerica
Office building Address SF Completed
EMD Serono Research Center - Expansion 45 Middlesex Turnpike, 01821 149,000 2022
45 Middlesex Turnpike 45 Middlesex Turnpike, 01821 214,562 2002
95 Billerica Avenue 95 Billerica Avenue, 01862 75,500 2002
Manning Park - 40 Manning Road 40 Manning Road, 01821 83,544 2001
Middlesex Technology Center - Building 1 900 Middlesex Turnpike, 01821 91,600 2000
BT37 Business Park - Building 7 101 Billerica Avenue, 01862 57,990 2000
Technology Park - 880 Technology Park Drive 880 Technology Park Drive, 01821 151,564 1999
290 Concord Road 290 Concord Road, 01821 143,148 1998
BT37 Business Park - Building 4 101 Billerica Avenue, 01862 60,992 1997
Technology Park - 600 Technology Park Drive 600 Technology Park Drive, 01821 446,000 1989

Worth noting among recent office completions on the Billerica market is EMD Serono Research Center - Expansion, which is currently the largest new office development in the city, at 149,000 square feet.

Data provided by Commercial Edge

See reports for nearby markets

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 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Billerica 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.