2020 Office Space Rent & Sales
- $25.11 2020 Avg. Asking Rent
- -4.17% Y-o-Y Avg. Asking Rent Change
- 13.84% 2020 Office Vacancy Rate
Germantown office price per square foot in 2020 was $25.11 on average. This marked a -4.17% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 13.84% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Germantown Class A Office Space$16.00
- Germantown Class B Office Space$25.46
- Maryland Class A Office Space$32.41
- Maryland Class B Office Space$25.12
- Maryland Class C Office Space$19.46
Germantown, MD Office Asking Rents by Class
2020 Office Construction in Germantown, MD
- Germantown, MD Total SF completed in 2020
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Germantown office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.
| Office building | Address | SF | Completed |
|---|---|---|---|
| 19851 Observation Drive | 19851 Observation Drive, 20876 | 80,000 | 2015 |
| Milestone Business Park - 12409 Milestone Center Drive | 12409 Milestone Center Drive, 20876 | 162,285 | 2012 |
| Milestone Business Park - 12420 Milestone Center Drive | 12420 Milestone Center Court, 20876 | 156,637 | 2009 |
| Crystal Rock Plaza | 19785 Crystal Rock Drive, 20874 | 58,000 | 2007 |
| 20441 Century Blvd | 20441 Century Blvd, 20874 | 114,067 | 2006 |
| Seneca Meadows Corporate Center - 20310-20340 Seneca Meadows Pkwy | 20310 Seneca Meadows Pkwy, 20877 | 107,251 | 2006 |
| Germantown II & III | 19731 Germantown Road, 20874 | 121,602 | 2005 |
| Seneca Meadows Corporate Center - 20407 & 20425 Seneca Meadows Pkwy | 20425 Seneca Meadows Pkwy, 20876 | 93,000 | 2004 |
| 12820 Wisteria Drive | 12820 Wisteria Drive, 20874 | 26,987 | 2004 |
| Milestone Business Park - 12410 Milestone Center Drive | 12410 Milestone Center Drive, 20876 | 183,210 | 2002 |
Worth noting among recent office completions on the Germantown market is 19851 Observation Drive, which is currently the largest new office development in the city, at 80,000 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 Germantown 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.