Plymouth Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $25.26 2024 Avg. Asking Rent
  • 6.34% 2024 Office Vacancy Rate
  • $98M2024 Total Office Sales
  • $134.34Avg. Sale Price/SF

Plymouth office price per square foot in 2024 was $25.26 on average. The local office market recorded an average vacancy rate of 6.34% across all asset classes combined. The 4 transactions that closed here throughout 2024 amounted to a total sale volume of $98M. Plymouth office space commanded an average sale price per square foot of $134.34.

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

  • Minnesota Class A & A+ Office Space$31.74
  • Minnesota Class B Office Space$22.75
  • Minnesota Class C Office Space$15.23

Plymouth, MN Office Asking Rents by Class

Office Spaces for Rent in Minnesota

Plymouth Office Sale Price per SF

  • $134.342024 Avg. Price per SF
  • 30.09%Y-o-Y Avg. PpSF Change
  • $98M2024 Office Sales Volume
  • 42024 Number of Transactions

Plymouth, MN Sale Price per SF Trend

  • Plymouth Avg. Sale Price per SF in 2024$134.34
  • Minnesota Avg. Sale Price per SF in 2024$84.32
Plymouth office space cost in 2024 marked a +30.09% change compared to the previous year. The sale price for office space in Plymouth averaged $134.34 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Minnesota average office sale price during the same time period was $84.32 per square foot.

2024 Office Sales Volume

  • Plymouth, MN Total Office Sales Volume in 2024 $98M
  • Plymouth, MN Total Number of Office Sales Closed in 2024 4
A total of 4 deals closed on the Plymouth office market in 2024, adding up to a yearly sales volume of $98M. Notably, the largest transaction on the market saw WestHealth change hands for $72,000,000 on 10/15/2024.
Data provided by Commercial Edge

Coworking Spaces in Minnesota

2024 Office Construction in Plymouth, MN

Largest Office Properties Recently Completed in Plymouth
Office building Address SF Completed
Plymouth City Center Medical Building 15655 37th Avenue North, 55446 50,000 2014
Plymouth Creek Professional I & II 3655 Plymouth Blvd, 55446 25,000 2006
City Center Professional Building 15700 37th Avenue, 55446 50,000 2002
Plymouth City Center I 15650 36th Ave N, 55446 20,765 2001
Wings Financial Plymouth 3455 Plymouth Blvd, 55447 13,033 2001
6000 Nathan Lane North 6000 Nathan Lane North, 55442 182,250 1999
Goldridge Building 3021 Harbor Lane North, 55447 31,712 1997
WestHealth 2805 Campus Drive, 55441 181,600 1994
Plymouth Professional I 9750 Rockford Road, 55441 15,144 1993
Plymouth Professional I 9750 Rockford Road, 55441 15,144 1993

Worth noting among recent office completions on the Plymouth market is Plymouth City Center Medical Building, which is currently the largest new office development in the city, at 50,000 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 Plymouth 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.