2020 Office Space Rent & Sales
- $18.70 2020 Avg. Asking Rent
- -0.43% Y-o-Y Avg. Asking Rent Change
- 34.95% 2020 Office Vacancy Rate
Portage office price per square foot in 2020 was $18.70 on average. This marked a -0.43% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 34.95% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Portage Class B Office Space$18.73
- Portage Class C Office Space$11.50
- Michigan Class A Office Space$25.50
- Michigan Class B Office Space$20.35
- Michigan Class C Office Space$17.64
Portage, MI Office Asking Rents by Class
2020 Office Construction in Portage, MI
- Portage, MI Total SF completed in 2020
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Portage office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.
| Office building | Address | SF | Completed |
|---|---|---|---|
| 650 Trade Centre Way | 650 Trade Centre Way, 49002 | 100,627 | 2018 |
| 950 Trade Centre Way | 950 Trade Centre Way, 49002 | 109,006 | 2007 |
| 750 Trade Centre Way | 750 Trade Centre Way, 49002 | 83,500 | 2005 |
| Creekside Commons III | 8175 Creekside Drive, 49024 | 36,000 | 2002 |
| Creekside Commons II | 8075 Creekside Drive, 49024 | 40,000 | 2001 |
| 6101 Newport Road | 6101 Newport Road, 49002 | 73,502 | 1997 |
| Borgess at Woodbridge Hills - North | 7901 Angling Road, 49024 | 70,846 | 1995 |
| 6901 Portage Road | 6901 Portage Road, 49002 | 365,000 | 1989 |
| 5564 Portage Road | 5564 Portage Road, 49002 | 104,366 | 1989 |
| Trestlebridge Office Center | 5148 Lovers Lane, 49002 | 73,617 | 1986 |
Worth noting among recent office completions on the Portage market is 650 Trade Centre Way, which is currently the largest new office development in the city, at 100,627 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 Portage 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.