Columbia Office Market Trends

Office Rental Market

  • $24.60 2019 Avg. Asking Rent
  • 6.07 % 2019 Avg. Vacancy Rate
  • 312,560 2019 Office Completions (Sqft)
  • 30,000 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Columbia was $24.60 per square foot, and the office vacancy rate across the market averaged 6.07 %. During 2019, developers added 312,560 square feet of new office space to the Columbia market inventory. Office developments estimated for delivery during 2020 total 30,000 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Columbia Class A Office Buildings$27.46
  • Columbia Class B Office Buildings$23.52
  • Columbia Class C Office Buildings$23.88
  • MD Class A Office Buildings$31.28
  • MD Class B Office Buildings$24.32
  • MD Class C Office Buildings$18.37

Columbia, MD Office Asking Rents by Class

Office asking rents vary across the Columbia office market depending on several factors, one of which is property class. While rents for Class A office buildings in Columbia averaged $27.46 per square foot in 2019, Class B office properties garnered average rental rates of $23.52 per square foot. Rental rates for Class C office property in Columbia averaged $23.88 per square foot. On a statewide level, Class B office space rents averaged $24.32 per square foot, while rents for Class A office space across Maryland averaged $31.28 per square foot. On average, Class C office properties in Maryland commanded rents of $18.37 per square foot.

2019 OFFICE VACANCY RATES

Submarket Asking Rents Vacancy Rates
Columbia$24.996.07 %
Laurel$19.741.65 %
Data provided by Commercial Edge
  • The lowest office vacancy rate in 2019 in Columbia was 1.65 % in the Laurel submarket, where asking rents averaged $19.74.
  • The highest office vacancy rate in 2019 in Columbia was 6.07 % in the Columbia submarket, where asking rents averaged $24.99.

OFFICE CONSTRUCTION IN Columbia, MD

  • Columbia, MD Total Sqft completed in 2019 312,560
  • Columbia, MD Total Sqft under construction in 2020 30,000
10 Largest Office Buildings in Columbia
Building name Address Total Sqft Year built
6100 Merriweather Drive 6100 Merriweather Drive, 21044 325,560 2019
Crestpointe I Corporate Center 7055 Samuel Morse Drive, 21046 258,767 2001
Old Dobbin Lane at Columbia Crossing 6200 Old Dobbin Lane, 21045 252,476 2001
Columbia Gateway Business Park 7031 Columbia Gateway Drive, 21046 247,624 2000
Franklin Center 6841 Benjamin Franklin Drive, 21046 200,573 2008
One Merriweather 10980 Grantchester Way, 21044 200,000 2017
Gateway Crossing 95 7130 Columbia Gateway Drive, 21046 188,819 1990
Westridge Corporate Center 6990 Columbia Gateway Drive, 21046 180,500 1999
70 Corporate Center 11000 Broken Land Pkwy, 21044 179,400 1992
Little Patuxent Square 10175 Little Patuxent Pkwy, 21044 168,000 2017
Largest Office Properties Recently Completed in Columbia
Office building Address Sqft Completed
Lakeside Center 8865 Stanford Blvd, 21045 85,000 2020
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
Two Merriweather 10960 Grantchester Way, 21044 165,000 2017
Waterloo Crossing 5900 Waterloo Road, 21045 66,000 2015
Grace Corporate Headquarters 7500 Grace Drive, 21044 90,000 2014
7205 Riverwood Drive 7205 Riverwood Drive, 21046 115,000 2012
Medical Pavilion - 10710 Charter Drive 10710 Charter Drive, 21044 163,814 2009
Columbia Gateway - Gateway Exchange III 6721 Columbia Gateway Drive, 21046 131,451 2009
Data provided by Commercial Edge

Office Spaces for Rent in Maryland

See trends for nearby markets

The Columbia office market contains an inventory of 12,558,960 square feet of office space, in 225 buildings that are equal to or larger than 25,000 square feet.

This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive 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.