2020 Office Space Rent & Sales
- $20.33 2020 Avg. Asking Rent
- 0.87 % Y-o-Y Avg. Asking Rent Change
- 19.58 % 2020 Office Vacancy Rate
Livonia office price per square foot in 2020 was $20.33 on average. This marked a +0.87 % change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 19.58 % across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Livonia Class A Office Space$21.39
- Livonia Class B Office Space$20.32
- Livonia Class C Office Space$15.71
- Michigan Class A Office Space$25.50
- Michigan Class B Office Space$20.35
- Michigan Class C Office Space$17.64
Livonia, MI Office Asking Rents by Class
Average office rent in Livonia rested at $20.33 per square foot in 2020. 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 $21.39 per square foot. Across all submarkets, class B office space recorded an average asking rent of $20.32 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $15.71 per square foot, on average. Comparably, statewide Michigan average office rents by class in 2020 were: $25.50 per square foot for class A office space; $20.35 per square foot for class B office space; $17.64 per square foot for class C office space.
2020 Office Construction in Livonia, MI
- Livonia, MI Total Sqft completed in 2020
- Livonia, MI Total Sqft under construction in 2021 80,000
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Livonia office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 80,000 square feet of office space to the market, before year-end.
|Livonia Medical Center||19000 St Joe`s Pkwy, 48152||123,646||2021|
|MASCO Corporate Headquarters||17450 Masco Way, 48152||75,000||2017|
|11801 Farmington Road||11801 Farmington Road, 48150||62,960||2017|
|Mendelson Professional Building||36622 5 Mile Road, 48154||42,000||2015|
|19401 Victor Pkwy||19401 Victor Pkwy, 48152||46,297||2012|
|19499 Victor Pkwy||19499 Victor Pkwy, 48152||39,730||2009|
|17430 & 17440 College Pkwy||17440 College Pkwy, 48152||119,742||2007|
|College Park - Brookside||17410 College Pkwy, 48152||40,902||2006|
|12001 Tech Center Drive||12001 Tech Center Drive, 48150||86,500||2004|
|Victor Corporate Center||20555 Victor Pkwy, 48152||373,593||1998|
Worth noting among recent office completions on the Livonia market is Livonia Medical Center, which is currently the largest new office development in the city, at 123,646 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 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.