2024 Office Space Rent & Sales
- $22.83 2024 Avg. Asking Rent
- 18.16% 2024 Office Vacancy Rate
Ann Arbor office price per square foot in 2024 was $22.83 on average. The local office market recorded an average vacancy rate of 18.16% 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
- Ann Arbor Class A & A+ Office Space$29.77
- Ann Arbor Class B Office Space$22.40
- Ann Arbor Class C Office Space$16.93
- Michigan Class A & A+ Office Space$23.20
- Michigan Class B Office Space$21.30
- Michigan Class C Office Space$15.30
Ann Arbor, MI Office Asking Rents by Class
Average office rent in Ann Arbor rested at $22.83 per square foot in 2024. 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 Ann Arbor averaged $29.77 per square foot. Across all submarkets, class B office space recorded an average asking rent of $22.40 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $16.93 per square foot, on average. Comparably, statewide Michigan average office rents by class in 2024 were: $23.20 per square foot for class A office space; $21.30 per square foot for class B office space; $15.30 per square foot for class C office space.
Coworking Spaces in Michigan
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2024 Office Construction in Ann Arbor, MI
- Ann Arbor, MI Total SF completed in 2024 130,000
During 2024, 130,000 square feet of new office space were delivered across the market. At the close of 2024, the Ann Arbor office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 130,000 square feet of office space.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Fully Equipped Data Center for Sale - Ann Arbor | 6163 Jackson, 48103 | 900 | 2012 |
| Former McDonalds Building | 3752 South State Street, 48108 | 4,485 | 2009 |
| 355 S. Zeeb Rd. | 355 S. Zeeb Rd., 48103 | 11,934 | 2006 |
| Concourse Office Center - Office Suites for Lease - Ann Arbor / Pittsfield Twp | 4343 Concourse, 48108 | 37,000 | 2004 |
| Office Suites For Lease - Briarwood Area / Ann Arbor | 3005 Boardwalk, 48108 | 45,000 | 2002 |
| The Ponds Office Center North | 3767 Ranchero Dr, 48108 | 29,497 | 2001 |
| The Ponds Office Center North | 3767 Ranchero Dr, 48108 | 29,497 | 2001 |
| Flex / Office for Lease in Ann Arbor | 5430 Data Ct, 48108 | 88,657 | 2000 |
| Forest Cove | 3001-3061 Miller Rd., 48103 | 82,000 | 2000 |
| Courtyard Building - Valley Ranch Business Park | 3948 Ranchero Dr. , 48108 | 14,700 | 2000 |
Worth noting among recent office completions on the Ann Arbor market is Fully Equipped Data Center for Sale - Ann Arbor, which is currently the largest new office development in the city, at 900 square feet.
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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 Ann Arbor 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.