2024 Office Space Rent & Sales
- $25.41 2024 Avg. Asking Rent
- -2.49% Y-o-Y Avg. Asking Rent Change
- 11.09% 2024 Office Vacancy Rate
Gaithersburg office price per square foot in 2024 was $25.41 on average. This marked a -2.49% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 11.09% 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
2024 Average Office Rent per Square Foot
- Maryland Class A & A+ Office Space$33.92
- Maryland Class B Office Space$27.36
- Maryland Class C Office Space$20.52
Gaithersburg, MD Office Asking Rents by Class
2024 Office Vacancy Rates in Gaithersburg
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| North Rockville | $38.67 | 16.46% |
| Gaithersburg | $23.89 | 8.08% |
Office Spaces for Rent in Maryland
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Coworking Spaces in Maryland
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2024 Office Construction in Gaithersburg, MD
| Office building | Address | SF | Completed |
|---|---|---|---|
| The Summit at Washingtonian | 9711 Washingtonian Blvd, 20878 | 193,533 | 2009 |
| 12 South Summit Avenue | 12 South Summit Avenue, 20877 | 105,000 | 2000 |
| Air Park & Air Park 2 | 7622 Rickenbacker Drive, 20879 | 155,720 | 1990 |
| Quince Diamond Executive Center | 555 Quince Orchard Road, 20878 | 114,606 | 1990 |
| Russell Office Park | 911 Russell Avenue, 20879 | 46,636 | 1988 |
| Metropolitan Enterprise Park | 2&8, 5&7 Metropolitan Court, 20877 | 40,000 | 1988 |
| 101 Lakeforest Blvd | 101 Lakeforest Blvd, 20877 | 42,000 | 1983 |
| PNC Bank Building | 702 Russell Avenue, 20877 | 53,393 | 1980 |
| 16079 Comprint Cir | 16079 Comprint Cir, 20877 | 941 | 1980 |
| 656 Quince Orchard Road | 656 Quince Orchard Road, 20878 | 107,284 | 1979 |
Worth noting among recent office completions on the Gaithersburg market is The Summit at Washingtonian, which is currently the largest new office development in the city, at 193,533 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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Gaithersburg 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.