2020 Office Space Rent & Sales
- $16.92 2020 Avg. Asking Rent
- -1.49 % Y-o-Y Avg. Asking Rent Change
- 25.80 % 2020 Office Vacancy Rate
Dearborn office price per square foot in 2020 was $16.92 on average. This marked a -1.49 % change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 25.80 % across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Dearborn Class A Office Space$21.99
- Dearborn Class B Office Space$16.67
- Michigan Class A Office Space$25.50
- Michigan Class B Office Space$20.35
- Michigan Class C Office Space$17.64
Dearborn, MI Office Asking Rents by Class
2020 Office Construction in Dearborn, MI
- Dearborn, MI Total Sqft completed in 2020
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Dearborn office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.
|Wagner Place||21931 Michigan Avenue, 48124||148,039||2018|
|Kirkwood Professional Plaza||5500 Auto Club Drive, 48126||144,108||2013|
|Dearborn Town Center||4700 Schaefer Road, 48126||168,000||2010|
|5750 Mercury Drive||5750 Mercury Drive, 48126||57,000||2003|
|15500 & 15700 Lundy Pkwy||15500 Lundy Pkwy, 48126||134,936||2001|
|5850 Mercury||5850 Mercury Drive, 48126||77,884||2000|
|5800 Mercury||5800 Mercury Drive, 48126||70,773||2000|
|5900 Mercury||5900 Mercury Drive, 48126||70,707||2000|
|iTek Center||15555 Lundy Pkwy, 48126||461,864||1999|
|Corporate Crossings||550 Town Center Drive, 48126||217,870||1999|
Worth noting among recent office completions on the Dearborn market is Wagner Place, which is currently the largest new office development in the city, at 148,039 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 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.