Columbia Office Rent Price & Sales Report

2020 Office Space Rent & Sales

  • $27.61 2020 Avg. Asking Rent
  • 10.31% 2020 Office Vacancy Rate
  • $61.1M2020 Total Office Sales
  • $126.69Avg. Sale Price/SF

Columbia office price per square foot in 2020 was $27.61 on average. The local office market recorded an average vacancy rate of 10.31% across all asset classes combined. The 4 transactions that closed here throughout 2020 amounted to a total sale volume of $61.1M. Columbia office space commanded an average sale price per square foot of $126.69.

Average Rent by Office Class

2020 Average Office Rent per Square Foot

  • Columbia Class A Office Space$31.88
  • Columbia Class B Office Space$23.93
  • Columbia Class C Office Space$24.77
  • Maryland Class A Office Space$32.41
  • Maryland Class B Office Space$25.12
  • Maryland Class C Office Space$19.46

Columbia, MD Office Asking Rents by Class

Average office rent in Columbia rested at $27.61 per square foot in 2020. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Columbia averaged $31.88 per square foot. Across all submarkets, class B office space recorded an average asking rent of $23.93 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $24.77 per square foot, on average. Comparably, statewide Maryland average office rents by class in 2020 were: $32.41 per square foot for class A office space; $25.12 per square foot for class B office space; $19.46 per square foot for class C office space.

2020 Office Vacancy Rates in Columbia

Submarket Asking Rents Vacancy Rates
Columbia $27.80 10.97%
Laurel $18.63 5.64%
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 Columbia market was 10.31% in 2020. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Columbia was 5.64% in the Laurel submarket, while the highest office vacancy in the market was 10.97%, recorded in Columbia.

Office Spaces for Rent in Maryland

Columbia Office Sale Price per SF

  • $126.692020 Avg. Price per SF
  • -21.95%Y-o-Y Avg. PpSF Change
  • $61.1M2020 Office Sales Volume
  • 42020 Number of Transactions

Columbia, MD Sale Price per SF Trend

  • Columbia Avg. Sale Price per SF in 2020$126.69
  • Maryland Avg. Sale Price per SF in 2020$184.49
Columbia office space cost in 2020 marked a -21.95% change compared to the previous year. The sale price for office space in Columbia averaged $126.69 per square foot in 2020, across all market subdivisions and asset classes. Conversely, the statewide Maryland average office sale price during the same time period was $184.49 per square foot.

2020 Office Sales Volume

  • Columbia, MD Total Office Sales Volume in 2020 $61.1M
  • Columbia, MD Total Number of Office Sales Closed in 2020 4
A total of 4 deals closed on the Columbia office market in 2020, adding up to a yearly sales volume of $61.1M. Notably, the largest transaction on the market saw Old Dobbin Lane at Columbia Crossing change hands for $30,600,000 on 9/8/2020.

Largest Columbia Office Sales in 2020

Property name Address Date Price
Old Dobbin Lane at Columbia Crossing 6200 Old Dobbin Lane 9/8/2020 $30,600,000
Woodmere I & II 9881 Broken Land Pkwy 6/15/2020 $16,900,000
10330 Old Columbia Road 10330 Old Columbia Road 3/13/2020 $7,400,000
Quarry Tech Building 9175 Guilford Road 12/4/2020 $6,155,000
Data provided by Commercial Edge

2020 Office Construction in Columbia, MD

  • Columbia, MD Total SF completed in 2020

During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Columbia office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.

Largest Office Properties Recently Completed in Columbia
Office building Address SF Completed
6100 Merriweather Drive 6100 Merriweather Drive, 21044 325,560 2019
One Merriweather 10980 Grantchester Way, 21044 200,000 2017
Little Patuxent Square 10175 Little Patuxent Pkwy, 21044 168,000 2017
10960 Grantchester Way 10960 Grantchester Way, 21044 122,989 2017
Waterloo Crossing 5900 Waterloo Road, 21045 66,000 2015
7001 Columbia Gateway Dr 7001 Columbia Gateway Dr, 21046 120,000 2008
9256 Bendix Rd 9256 Bendix Rd, 21045 70,427 2008
9256 Bendix Rd 9256 Bendix Rd, 21045 70,427 2008
7021 Columbia Gateway Drive 7021 Columbia Gateway Drive, 21046 106,212 2007
6811 Benjamin Franklin Dr 6811 Benjamin Franklin Dr, 21046 56,700 2007

Worth noting among recent office completions on the Columbia market is 6100 Merriweather Drive, which is currently the largest new office development in the city, at 325,560 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 Columbia 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.