2022 Office Space Rent & Sales
- $32.32 2022 Avg. Asking Rent
- 7.46% 2022 Office Vacancy Rate
- $50.5M2022 Total Office Sales
- $112.20Avg. Sale Price/SF
Plymouth office price per square foot in 2022 was $32.32 on average. The local office market recorded an average vacancy rate of 7.46% across all asset classes combined. The 4 transactions that closed here throughout 2022 amounted to a total sale volume of $50.5M. Plymouth office space commanded an average sale price per square foot of $112.20.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Plymouth Class A & A+ Office Space$34.30
- Plymouth Class B Office Space$27.21
- Minnesota Class A & A+ Office Space$31.34
- Minnesota Class B Office Space$22.45
- Minnesota Class C Office Space$17.93
Plymouth, MN Office Asking Rents by Class
Plymouth Office Sale Price per SF
- $112.202022 Avg. Price per SF
- 6.86%Y-o-Y Avg. PpSF Change
- $50.5M2022 Office Sales Volume
- 42022 Number of Transactions
Plymouth, MN Sale Price per SF Trend
- Plymouth Avg. Sale Price per SF in 2022$112.20
- Minnesota Avg. Sale Price per SF in 2022$141.49
2022 Office Sales Volume
- Plymouth, MN Total Office Sales Volume in 2022 $50.5M
- Plymouth, MN Total Number of Office Sales Closed in 2022 4
Largest Plymouth Office Sales in 2022
Property name | Address | Date | Price |
---|---|---|---|
Bass Creek Business Park - Tech West 55 | 14800 28th Avenue North | 11/7/2022 | $18,500,000 |
Jet 55 Corporate Center | 12755 State Highway 55 | 11/10/2022 | $15,553,020 |
Plymouth Corporate Campus | 1725 Xenium Lane North | 11/7/2022 | $9,700,000 |
9905 45th Avenue North 9905 | 45th Avenue North | 10/10/2022 | $6,765,000 |
Coworking Spaces in Minnesota
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2022 Office Construction in Plymouth, MN
Office building | Address | SF | Completed |
---|---|---|---|
Plymouth City Center Medical | 15655 37th Ave, 55446 | 50,000 | 2014 |
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 |
Plymouth City Center I | 15650 36th Ave N, 55446 | 20,765 | 2001 |
Wings Financial Plymouth | 3455 Plymouth Blvd, 55447 | 13,000 | 2001 |
6000 Nathan Lane | 6000 Nathan Lane, 55442 | 190,000 | 1999 |
Plymouth Woods Office Center | 3300 Fernbrook Ln, 55447 | 85,232 | 1998 |
Goldridge Building | 3021 Harbor Lane North, 55447 | 31,712 | 1997 |
Plymouth Professional I | 9750 Rockford Road, 55441 | 22,844 | 1993 |
Plymouth Professional II | 9800 Rockford Road- Plym, 55442 | 7,700 | 1993 |
Worth noting among recent office completions on the Plymouth market is Plymouth City Center Medical, which is currently the largest new office development in the city, at 50,000 square feet.
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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 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. 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.