Livonia Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $19.13 2024 Avg. Asking Rent
  • 0.86% Y-o-Y Avg. Asking Rent Change
  • 33.72% 2024 Office Vacancy Rate
  • $14.1M2024 Total Office Sales
  • $65.02Avg. Sale Price/SF

Livonia office price per square foot in 2024 was $19.13 on average. This marked a +0.86% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 33.72% across all asset classes combined. The 3 transactions that closed here throughout 2024 amounted to a total sale volume of $14.1M. Livonia office space commanded an average sale price per square foot of $65.02.

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

  • Livonia Class A & A+ Office Space$18.31
  • Livonia Class B Office Space$22.54
  • Livonia Class C Office Space$10.42
  • Michigan Class A & A+ Office Space$23.20
  • Michigan Class B Office Space$21.30
  • Michigan Class C Office Space$15.30

Livonia, MI Office Asking Rents by Class

Average office rent in Livonia rested at $19.13 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 Livonia averaged $18.31 per square foot. Across all submarkets, class B office space recorded an average asking rent of $22.54 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $10.42 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.

Office Spaces for Rent in Michigan

Livonia Office Sale Price per SF

  • $65.022024 Avg. Price per SF
  • -39.15%Y-o-Y Avg. PpSF Change
  • $14.1M2024 Office Sales Volume
  • 32024 Number of Transactions

Livonia, MI Sale Price per SF Trend

  • Livonia Avg. Sale Price per SF in 2024$65.02
  • Michigan Avg. Sale Price per SF in 2024$84.69
Livonia office space cost in 2024 marked a -39.15% change compared to the previous year. The sale price for office space in Livonia averaged $65.02 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Michigan average office sale price during the same time period was $84.69 per square foot.

2024 Office Sales Volume

  • Livonia, MI Total Office Sales Volume in 2024 $14.1M
  • Livonia, MI Total Number of Office Sales Closed in 2024 3
A total of 3 deals closed on the Livonia office market in 2024, adding up to a yearly sales volume of $14.1M. Notably, the largest transaction on the market saw Michigan Medicine Livonia Center for Specialty Care change hands for $7,815,914 on 7/19/2024.
Data provided by Commercial Edge

Coworking Spaces in Michigan

2024 Office Construction in Livonia, MI

Largest Office Properties Recently Completed in Livonia
Office building Address SF Completed
Livonia Corporate Center - Building 2 28201 Schoolcraft Road, 48150 738,000 2018
19499 Victor Pkwy 19499 Victor Pkwy, 48152 39,730 2009
17430 & 17440 College Pkwy 17440 College Pkwy, 48152 119,742 2007
12001 Tech Center Drive 12001 Tech Center Drive, 48150 88,066 2004
12001 Tech Center Drive 12001 Tech Center Drive, 48150 86,500 2004
Livonia Corporate Center - Building 3 28301 Schoolcraft Road, 48150 763,000 2001
Trinity Health 20555 Victor Parkway, 48152 197,000 1999
Victor Corporate Center Building 2 20255 Victor Parkway, 48152 176,762 1999
Victor Corporate Center Building 2 20255 Victor Parkway, 48152 176,762 1999
Laurel Pointe Office 37655-37699 Six Mile Road, 48152 20,984 1999

Worth noting among recent office completions on the Livonia market is Livonia Corporate Center - Building 2, which is currently the largest new office development in the city, at 738,000 square feet.

Data provided by Commercial Edge

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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 CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Livonia 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.