2020 Office Space Rent & Sales
- $20.38 2020 Avg. Asking Rent
- -0.97 % Y-o-Y Avg. Asking Rent Change
- 19.26 % 2020 Office Vacancy Rate
Lanham office price per square foot in 2020 was $20.38 on average. This marked a -0.97 % change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 19.26 % across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Lanham Class A Office Space$28.00
- Lanham Class B Office Space$19.78
- Lanham Class C Office Space$20.57
- Maryland Class A Office Space$32.41
- Maryland Class B Office Space$25.12
- Maryland Class C Office Space$19.46
Lanham, MD Office Asking Rents by Class
Average office rent in Lanham rested at $20.38 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 Lanham averaged $28.00 per square foot. Across all submarkets, class B office space recorded an average asking rent of $19.78 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $20.57 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 Lanham, MD
|4501 Boston Way||4501 Boston Way, 20706||33,550||2010|
|Doctors Community Hospital Professional Office Building||8116 Good Luck Road, 20706||64,261||2009|
|10001 Willowdale Road||10001 Willowdale Road, 20706||28,200||2005|
|Beco Park at Forbes Center - 4260-4296 Forbes Blvd||4260 Forbes Blvd, 20706||54,692||2000|
|4371 Parliament Place||4371 Parliament Place, 20706||62,000||1997|
|Greentec IV - 7700 & 7720 Hubble Drive||7720 Hubble Drive, 20706||120,873||1994|
|Goddard Corporate Park||7515 Mission Drive, 20706||203,700||1993|
|Maryland Corporate Center 4||7404 Executive Place, 20706||77,034||1990|
|Greenbelt Executive Center||9801 Greenbelt Road, 20706||56,267||1990|
|4200 Parliament Place||4200 Parliament Place, 20706||122,000||1989|
Worth noting among recent office completions on the Lanham market is Maryland Corporate Center 4, which is currently the largest new office development in the city, at 77,034 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 Lanham 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.