2022 Office Space Rent & Sales
- $26.93 2022 Avg. Asking Rent
- -3.10% Y-o-Y Avg. Asking Rent Change
- 12.16% 2022 Office Vacancy Rate
- $57.4M2022 Total Office Sales
- $173.37Avg. Sale Price/SF
Columbia office price per square foot in 2022 was $26.93 on average. This marked a -3.10% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 12.16% across all asset classes combined. The 3 transactions that closed here throughout 2022 amounted to a total sale volume of $57.4M. Columbia office space commanded an average sale price per square foot of $173.37.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Columbia Class A & A+ Office Space$31.11
- Columbia Class B Office Space$25.29
- Columbia Class C Office Space$20.43
- Maryland Class A & A+ Office Space$31.43
- Maryland Class B Office Space$26.48
- Maryland Class C Office Space$21.66
Columbia, MD Office Asking Rents by Class
Average office rent in Columbia rested at $26.93 per square foot in 2022. 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 $31.11 per square foot. Across all submarkets, class B office space recorded an average asking rent of $25.29 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $20.43 per square foot, on average. Comparably, statewide Maryland average office rents by class in 2022 were: $31.43 per square foot for class A office space; $26.48 per square foot for class B office space; $21.66 per square foot for class C office space.
2022 Office Vacancy Rates in Columbia
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Columbia | $27.37 | 14.03% |
Laurel | $21.18 | 3.41% |
Columbia Office Sale Price per SF
- $173.372022 Avg. Price per SF
- $57.4M2022 Office Sales Volume
- 32022 Number of Transactions
Columbia, MD Sale Price per SF Trend
- Columbia Avg. Sale Price per SF in 2022$173.37
- Maryland Avg. Sale Price per SF in 2022$190.42
2022 Office Sales Volume
- Columbia, MD Total Office Sales Volume in 2022 $57.4M
- Columbia, MD Total Number of Office Sales Closed in 2022 3
Largest Columbia Office Sales in 2022
Property name | Address | Date | Price |
---|---|---|---|
Old Dobbin Lane at Columbia Crossing | 6200 Old Dobbin Lane | 6/23/2022 | $37,000,000 |
Columbia Professional Center | 10840 Little Patuxent Pkwy | 3/8/2022 | $12,125,000 |
10330 Old Columbia Road | 10330 Old Columbia Road | 6/3/2022 | $8,300,000 |
Coworking Spaces in Maryland
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2022 Office Construction in Columbia, MD
Office building | Address | SF | Completed |
---|---|---|---|
Lakefront District - 10285 Lakefront | 10285 Little Patuxent Pkwy, 21044 | 86,000 | 2024 |
Lakeside Office & Retail Center | 8865 Stanford Blvd, 21045 | 85,000 | 2021 |
6100 Merriweather Dr | 6100 Merriweather Dr, 21044 | 320,964 | 2019 |
Little Patuxent Square | 10175 Little Patuxent Pkwy, 21044 | 168,000 | 2017 |
Two Merriweather | 10960 Grantchester Way, 21044 | 122,989 | 2017 |
Columbia Town Center | 10980 Grantchester Way, 21044 | 210,000 | 2016 |
Waterloo Crossing | 5900 Waterloo Road, 21045 | 66,000 | 2015 |
Gateway Exchange III | 6721 Columbia Gateway Dr, 21046 | 131,451 | 2009 |
8894 Stanford Blvd #304/305 | 8894 Stanford Blvd, 21045 | 4,279 | 2009 |
7001 Columbia Gateway Dr | 7001 Columbia Gateway Dr, 21046 | 120,000 | 2008 |
Worth noting among recent office completions on the Columbia market is Lakefront District - 10285 Lakefront, which is currently the largest new office development in the city, at 86,000 square feet.
See reports for other markets
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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 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. 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.