2024 Office Space Rent & Sales
- $21.53 2024 Avg. Asking Rent
- 25.18% 2024 Office Vacancy Rate
Troy office price per square foot in 2024 was $21.53 on average. The local office market recorded an average vacancy rate of 25.18% across all asset classes combined.
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
- Troy Class A & A+ Office Space$26.69
- Troy Class B Office Space$20.96
- Troy Class C Office Space$16.43
- Michigan Class A & A+ Office Space$23.20
- Michigan Class B Office Space$21.30
- Michigan Class C Office Space$15.30
Troy, MI Office Asking Rents by Class
Average office rent in Troy rested at $21.53 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 Troy averaged $26.69 per square foot. Across all submarkets, class B office space recorded an average asking rent of $20.96 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $16.43 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
Coworking Spaces in Michigan
- New York City Coworking Space
- Manhattan Coworking Space
- Chicago Coworking Space
- Washington Coworking Space
- Brooklyn Coworking Space
- Philadelphia Coworking Space
- Columbus Coworking Space
- Indianapolis Coworking Space
- Cincinnati Coworking Space
- Pittsburgh Coworking Space
- Alexandria Coworking Space
- Detroit Coworking Space
- Louisville Coworking Space
- Cleveland Coworking Space
- Milwaukee Coworking Space
- Jersey City Coworking Space
- Richmond Coworking Space
- Ann Arbor Coworking Space
- Grand Rapids Coworking Space
- Madison Coworking Space
- Queens Coworking Space
| Office building | Address | SF | Completed |
|---|---|---|---|
| Troy Medical Center | 1639 East Big Beaver Road, 48083 | 38,000 | 2007 |
| Rochester Office Parc | 6535-6585 Rochester Rd, 48085 | 19,280 | 2005 |
| Century Office Plaza | 400 E Big Beaver Rd, 48083 | 12,680 | 2005 |
| Columbia Center II | 101 West Big Beaver Road, 48084 | 251,620 | 2000 |
| 1441 West Long Lake Road | 1441 West Long Lake Road, 48098 | 106,772 | 2000 |
| 2600 Bellingham Road | 2600 Bellingham Road, 48083 | 45,943 | 2000 |
| Willow Office Center | 525 E Big Beaver Rd, 48083 | 37,301 | 2000 |
| King Office Plaza | 4893-4897 Rochester Rd, 48085 | 10,836 | 1992 |
| Timberland Office Park IV | 1450 West Long Lake Road, 48098 | 162,353 | 1990 |
| Wattles Professional Center | 1950 E Wattles Road, 48085 | 13,600 | 1990 |
Worth noting among recent office completions on the Troy market is Troy Medical Center, which is currently the largest new office development in the city, at 38,000 square feet.
See reports for other markets
- Ann Arbor Office Rent Price
- Detroit Office Rent Price
- Lansing Office Rent Price
- Southfield Office Rent Price
- Grand Rapids Office Rent Price
- Farmington Hills Office Rent Price
- Livonia Office Rent Price
- Novi Office Rent Price
- East Lansing Office Rent Price
- Chicago Office Rent Price
- Los Angeles Office Rent Price
- Phoenix Office Rent Price
- San Francisco Office Rent Price
- Charlotte Office Rent Price
- Seattle Office Rent Price
- Atlanta Office Rent Price
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 Troy 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.