Gaithersburg Office Rent Price & Sales Report

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%
Data provided by Yardi Research
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 Gaithersburg market was 11.09% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Gaithersburg was 8.08% in the Gaithersburg submarket, while the highest office vacancy in the market was 16.46%, recorded in North Rockville.

Office Spaces for Rent in Maryland

Coworking Spaces in Maryland

2024 Office Construction in Gaithersburg, MD

Largest Office Properties Recently Completed in Gaithersburg
Office building Address SF Completed
The Summit at Washingtonian 9711 Washingtonian Blvd, 20878 193,533 2009
Kentlands II & Kentlands Place 209 Kentlands Blvd, 20878 280,562 1995
18403 Woodfield Rd 18403 Woodfield Rd, 20879 5,862 1995
555 Quince Orchard Road 555 Quince Orchard Road, 20878 4,992,237,360 1990
555 Quince Orchard Road 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
945 Russell Avenue Suite B - Office 945 Russell Avenue Suite B, 20879 30,000 1986
Avenel Business Park 200 Perry Pkwy, 20877 391,165 1982
Montgomery Executive Center 6 Montgomery Village Avenue, 20879 119,680 1982

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.

Data provided by Yardi Research

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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 Yardi Research Data, 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 Yardi Research Data can guarantee that the information provided is complete.