2022 Office Space Rent & Sales
- $19.21 2022 Avg. Asking Rent
- 20.98% 2022 Office Vacancy Rate
Lansing office price per square foot in 2022 was $19.21 on average. The local office market recorded an average vacancy rate of 20.98% across all asset classes combined.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Lansing Class A & A+ Office Space$24.23
- Lansing Class B Office Space$19.56
- Lansing Class C Office Space$17.68
- Michigan Class A & A+ Office Space$23.64
- Michigan Class B Office Space$21.53
- Michigan Class C Office Space$18.62
Lansing, MI Office Asking Rents by Class
Average office rent in Lansing rested at $19.21 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 Lansing averaged $24.23 per square foot. Across all submarkets, class B office space recorded an average asking rent of $19.56 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $17.68 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
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- Grand Rapids Coworking Space
2022 Office Construction in Lansing, MI
Office building | Address | SF | Completed |
---|---|---|---|
3165 East Michigan Avenue | 3165 East Michigan Avenue, 48912 | 337,158 | 2017 |
2824 E Grand River Ave | 2824 E Grand River Ave, 48912 | 13,243 | 2008 |
2720 S. Washington Ave | 2720 S. Washington Ave, 48910 | 20,050 | 2006 |
826 Municipal Way | 826 Municipal Way, 48917 | 11,649 | 2005 |
Marketplace Office Park | 8158 Executive Ct, 48917 | 6,137 | 2003 |
8164 Executive Ct | 8164 Executive Ct, 48917 | 13,360 | 2002 |
3410 Belle Chase Way | 3410 Belle Chase Way, 48911 | 9,822 | 2002 |
1000 W St Joseph St | 1000 W St Joseph St, 48915 | 110,754 | 2001 |
Michigan Works! | 2110 S. Cedar St, 48910 | 31,842 | 2001 |
Marketplace Office Park | 8161 Executive Ct, 48917 | 10,301 | 2001 |
Worth noting among recent office completions on the Lansing market is 3165 East Michigan Avenue, which is currently the largest new office development in the city, at 337,158 square feet.
See reports for other markets
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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 Lansing 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.