2020 Office Space Rent & Sales
- $33.30 2020 Avg. Asking Rent
- 8.62% 2020 Office Vacancy Rate
Birmingham office price per square foot in 2020 was $33.30 on average. The local office market recorded an average vacancy rate of 8.62% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Birmingham Class A Office Space$48.51
- Birmingham Class B Office Space$32.54
- Michigan Class A Office Space$25.50
- Michigan Class B Office Space$20.35
- Michigan Class C Office Space$17.64
Birmingham, MI Office Asking Rents by Class
2020 Office Construction in Birmingham, MI
- Birmingham, MI Total SF completed in 2020
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Birmingham office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.
|The Balmoral||34901 Woodward Avenue, 48009||94,600||2015|
|325 North Old Woodward Avenue||325 North Old Woodward Avenue, 48009||102,533||2005|
|360 West Maple Road||360 West Maple Road, 48009||71,435||2004|
|The Palladium of Birmingham||250 North Old Woodward Avenue, 48009||123,198||2001|
|322 North Old Woodward Avenue||322 North Old Woodward Avenue, 48009||40,879||2001|
|480 Pierce Street||480 Pierce Street, 48009||42,619||1990|
|Huntington Center||220 Park Street, 48009||46,067||1988|
|185 Oakland Avenue||185 Oakland Avenue, 48009||38,129||1988|
|600 South Adams Road||600 South Adams Road, 48009||36,095||1988|
|805 East Maple Road||805 East Maple Road, 48009||25,731||1988|
Worth noting among recent office completions on the Birmingham market is The Balmoral, which is currently the largest new office development in the city, at 94,600 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 Birmingham 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.