2022 Office Space Rent & Sales
- $18.11 2022 Avg. Asking Rent
- 0.64% Y-o-Y Avg. Asking Rent Change
- 22.95% 2022 Office Vacancy Rate
Dearborn office price per square foot in 2022 was $18.11 on average. This marked a +0.64% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 22.95% across all asset classes combined.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Dearborn Class A & A+ Office Space$21.17
- Dearborn Class B Office Space$16.24
- Dearborn Class C Office Space$9.09
- Michigan Class A & A+ Office Space$23.64
- Michigan Class B Office Space$21.53
- Michigan Class C Office Space$18.62
Dearborn, MI Office Asking Rents by Class
Average office rent in Dearborn rested at $18.11 per square foot in 2022. 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 Dearborn averaged $21.17 per square foot. Across all submarkets, class B office space recorded an average asking rent of $16.24 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $9.09 per square foot, on average. Comparably, statewide Michigan average office rents by class in 2022 were: $23.64 per square foot for class A office space; $21.53 per square foot for class B office space; $18.62 per square foot for class C office space.
Coworking Spaces in Michigan
- New York City Coworking Space
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- Madison Coworking Space
2022 Office Construction in Dearborn, MI
- Dearborn, MI Total SF under construction in 2023 700,000
Office building | Address | SF | Completed |
---|---|---|---|
Fairlane North Tech Park | 5850 Mercury Dr, 48126 | 78,670 | 2000 |
Kirkwood Professional Plaza | 5500 Auto Club Drive, 48126 | 144,108 | 1992 |
Fairlane Plaza | 330 Town Center Drive, 48126 | 294,819 | 1987 |
Fairlane Office Center | 4 Parklane Blvd, 48126 | 286,726 | 1984 |
For Sale or For Lease> Office - Commerce Park North | 15350 N Commerce Drive, | 12,800 | 1976 |
17000 Executive Plaza Drive | 17000 Executive Plaza Drive, 48126 | 60,000 | 1974 |
3 Parklane Boulevard - Parklane Towers West | 3 Parklane Boulevard, 48126 | 246,690 | 1973 |
Parklane Towers | 1 & 3 Parklane Blvd, 48126 | 244,805 | 1973 |
Village Plaza | 23400 Michigan Avenue, 48124 | 285,468 | 1968 |
22720 Michigan Avenue | 22720 Michigan Avenue, 48124 | 28,148 | 1959 |
Worth noting among recent office completions on the Dearborn market is Fairlane North Tech Park, which is currently the largest new office development in the city, at 78,670 square feet.
See reports for other markets
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- Ann Arbor Office Rent Price
- Southfield Office Rent Price
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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 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Dearborn 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.