Greenbelt Office Market Trends

Office Rental Market

  • $22.53 2019 Avg. Asking Rent
  • 23.89 % 2019 Avg. Vacancy Rate
  • 0 2019 Office Completions (Sqft)
  • 0 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Greenbelt was $22.53 per square foot, and the office vacancy rate across the market averaged 23.89 %. During 2019, developers added 0 square feet of new office space to the Greenbelt market inventory. Office developments estimated for delivery during 2020 total 0 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Greenbelt Class A Office Buildings$23.65
  • Greenbelt Class B Office Buildings$22.04
  • Greenbelt Class C Office Buildings$19.50
  • MD Class A Office Buildings$31.28
  • MD Class B Office Buildings$24.32
  • MD Class C Office Buildings$18.37

Greenbelt, MD Office Asking Rents by Class

Office asking rents vary across the Greenbelt office market depending on several factors, one of which is property class. While rents for Class A office buildings in Greenbelt averaged $23.65 per square foot in 2019, Class B office properties garnered average rental rates of $22.04 per square foot. Rental rates for Class C office property in Greenbelt averaged $19.50 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.

OFFICE CONSTRUCTION IN Greenbelt, MD

  • Greenbelt, MD Total Sqft completed in 2019 0
  • Greenbelt, MD Total Sqft under construction in 2020 0
10 Largest Office Buildings in Greenbelt
Building name Address Total Sqft Year built
Maryland Trade Center I 7500 Greenway Center Drive, 20770 192,536 1981
Capital Office Park - 6406 Ivy Lane 6406 Ivy Lane, 20770 170,542 1991
Patriot Business Park East & West 7852 Walker Drive, 20770 169,210 2004
Capital Office Park - 6404 Ivy Lane 6404 Ivy Lane, 20770 165,234 1987
Maryland Trade Center II 7474 Greenway Center Drive, 20770 158,325 1984
Hanover Office Park 7201 Hanover Pkwy, 20770 142,335 1988
Capital Office Park - 6411 Ivy Lane 6411 Ivy Lane, 20770 138,405 1984
Greenbelt Corporate Park 7601 Ora Glen Drive, 20770 126,053 1989
Commerce Center I 7701 Greenbelt Road, 20770 125,920 1988
Golden Triangle II 7855 Walker Drive, 20770 118,436 1984
Largest Office Properties Recently Completed in Greenbelt
Office building Address Sqft Completed
Hanover Business Park - 7300 Hanover Drive 7300 Hanover Drive, 20770 42,300 2009
Patriot Business Park East & West 7852 Walker Drive, 20770 169,210 2004
Capital Office Park - 6406 Ivy Lane 6406 Ivy Lane, 20770 170,542 1991
Belle Point Office Park 7701 Belle Point Drive, 20770 72,835 1990
Greenbelt Corporate Park 7601 Ora Glen Drive, 20770 126,053 1989
Hanover Office Park 7201 Hanover Pkwy, 20770 142,335 1988
Commerce Center I 7701 Greenbelt Road, 20770 125,920 1988
Capital Office Park - 6404 Ivy Lane 6404 Ivy Lane, 20770 165,234 1987
Triangle Centre 6401 Golden Triangle Drive, 20770 80,454 1986
Maryland Trade Center II 7474 Greenway Center Drive, 20770 158,325 1984
Data provided by Commercial Edge

Office Spaces for Rent in Maryland

See trends for nearby markets

The Greenbelt office market contains an inventory of 2,579,369 square feet of office space, in 41 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 Greenbelt 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.