2020 Office Space Rent & Sales
- $26.52 2020 Avg. Asking Rent
- 15.28% 2020 Office Vacancy Rate
Wilmington office price per square foot in 2020 was $26.52 on average. The local office market recorded an average vacancy rate of 15.28% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Wilmington Class B Office Space$26.67
- Wilmington Class C Office Space$24.05
- Massachusetts Class A Office Space$46.89
- Massachusetts Class B Office Space$30.93
- Massachusetts Class C Office Space$24.25
Wilmington, MA Office Asking Rents by Class
2020 Office Construction in Wilmington, MA
- Wilmington, MA Total SF completed in 2020 226,610
During 2020, 226,610 square feet of new office space were delivered across the market. At the close of 2020, the Wilmington office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 226,610 square feet of office space.
| Office building | Address | SF | Completed |
|---|---|---|---|
| 804 Woburn Street | 804 Woburn Street, 01887 | 226,610 | 2020 |
| 37 Upton Drive | 37 Upton Drive, 01887 | 44,467 | 2000 |
| 205 & 207 Lowell Street | 205 Lowell Street, 01887 | 207,587 | 1998 |
| Corporate Place 93 - Building 2 | 301 Ballardvale Street, 01887 | 125,446 | 1998 |
| Corporate Place 93 - Building 3 | 299 Ballardvale Street, 01887 | 75,244 | 1998 |
| North Wilmington Business Park - 53-65 Jonspin Road | 65 Jonspin Road, 01887 | 62,991 | 1990 |
| 100 Research Drive | 100 Research Drive, 01887 | 103,370 | 1985 |
| North Wilmington Business Park - 46 Jonspin Road | 46 Jonspin Road, 01887 | 60,733 | 1985 |
| 261 Ballardvale Street | 261 Ballardvale Street, 01887 | 60,000 | 1985 |
| North Wilmington Business Park - 250 Andover Street | 250 Andover Street, 01887 | 31,696 | 1985 |
Worth noting among recent office completions on the Wilmington market is 804 Woburn Street, which is currently the largest new office development in the city, at 226,610 square feet.
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 Wilmington 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.