2020 Office Space Rent & Sales
- $29.68 2020 Avg. Asking Rent
- 13.66% 2020 Office Vacancy Rate
Gaithersburg office price per square foot in 2020 was $29.68 on average. The local office market recorded an average vacancy rate of 13.66% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Gaithersburg Class A Office Space$26.44
- Gaithersburg Class B Office Space$30.43
- Gaithersburg Class C Office Space$18.94
- Maryland Class A Office Space$32.41
- Maryland Class B Office Space$25.12
- Maryland Class C Office Space$19.46
Gaithersburg, MD Office Asking Rents by Class
Average office rent in Gaithersburg rested at $29.68 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 Gaithersburg averaged $26.44 per square foot. Across all submarkets, class B office space recorded an average asking rent of $30.43 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $18.94 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 Construction in Gaithersburg, MD
- Gaithersburg, MD Total Sqft completed in 2020
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Gaithersburg office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.
|The Summit at Washingtonian||9711 Washingtonian Blvd, 20878||193,533||2009|
|200 Professional Drive Building||200 Professional Drive, 20879||62,796||2008|
|Kaiser Permanente Gaithersburg Medical Center||655 Watkins Mill Road, 20879||175,000||2007|
|Lakefront at Washingtonian||9841 Washingtonian Blvd, 20878||103,360||2006|
|Quince Orchard Office Park - MedImmune Headquarters||1 Medimmune Way, 20878||961,159||2005|
|Two Washingtonian Center||9737 Washingtonian Blvd, 20878||287,816||2002|
|30 West Watkins Mill Road||30 West Watkins Mill Road, 20878||97,000||2002|
|950 Wind River Lane||950 Wind River Lane, 20878||50,000||2002|
|12 South Summit Avenue||12 South Summit Avenue, 20877||56,000||2000|
|1201 Clopper Road||1201 Clopper Road, 20878||143,585||1999|
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 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 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.