2020 Office Space Rent & Sales
- $21.40 2020 Avg. Asking Rent
- 4.19% 2020 Office Vacancy Rate
Northville office price per square foot in 2020 was $21.40 on average. The local office market recorded an average vacancy rate of 4.19% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Northville Class B Office Space$21.40
- Michigan Class A Office Space$25.50
- Michigan Class B Office Space$20.35
- Michigan Class C Office Space$17.64
Northville, MI Office Asking Rents by Class
2020 Office Construction in Northville, MI
- Northville, MI Total SF completed in 2020 210,165
During 2020, 210,165 square feet of new office space were delivered across the market. At the close of 2020, the Northville office inventory included 2 buildings equal to or larger than 25,000 square feet, which comprised 210,165 square feet of office space.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Water Wheel Centre | 235 East Main Street, 48167 | 74,456 | 2005 |
Worth noting among recent office completions on the Northville market is Water Wheel Centre, which is currently the largest new office development in the city, at 74,456 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 Northville 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.