2023 Office Space Rent & Sales
- $26.81 2023 Avg. Asking Rent
- 0.21% Y-o-Y Avg. Asking Rent Change
- 9.17% 2023 Office Vacancy Rate
Framingham office price per square foot in 2023 was $26.81 on average. This marked a +0.21% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 9.17% 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
2023 Average Office Rent per Square Foot
- Massachusetts Class A & A+ Office Space$61.88
- Massachusetts Class B Office Space$30.93
- Massachusetts Class C Office Space$41.60
Framingham, MA Office Asking Rents by Class
Office Spaces for Rent in Massachusetts
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Coworking Spaces in Massachusetts
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2023 Office Construction in Framingham, MA
| Office building | Address | SF | Completed |
|---|---|---|---|
| 1 Clarks Hill | 1 Clarks Hill, 01702 | 101,907 | 1991 |
| 959 Concord Street | 959 Concord Street, 01701 | 75,601 | 1987 |
| 205 Newbury Street | 205 Newbury Street, 01701 | 59,000 | 1986 |
| Temple Place | 1253 Worcester Road, 01701 | 30,272 | 1986 |
| 111 Speen | 111 Speen Street, 01701 | 117,000 | 1985 |
| 1881 Worcester Road | 1881 Worcester Road, 01701 | 64,536 | 1985 |
| Carousel Office Park | 500 Old Connecticut Path, 01701 | 377,000 | 1981 |
| 5 Speen Street | 5 Speen Street, 01701 | 87,404 | 1981 |
| 3 Speen Street | 3 Speen Street, 01701 | 73,774 | 1981 |
| 30 Speen Street | 30 Speen Street, 01701 | 40,536 | 1981 |
Worth noting among recent office completions on the Framingham market is 1 Clarks Hill, which is currently the largest new office development in the city, at 101,907 square feet.
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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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Framingham 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.