Greensboro Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $19.59 2024 Avg. Asking Rent
  • -3.40% Y-o-Y Avg. Asking Rent Change
  • 20.79% 2024 Office Vacancy Rate
  • $103.6M2024 Total Office Sales
  • $299.89Avg. Sale Price/SF

Greensboro office price per square foot in 2024 was $19.59 on average. This marked a -3.40% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 20.79% across all asset classes combined. The 5 transactions that closed here throughout 2024 amounted to a total sale volume of $103.6M. Greensboro office space commanded an average sale price per square foot of $299.89.

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

  • Greensboro Class A & A+ Office Space$22.93
  • Greensboro Class B Office Space$18.51
  • Greensboro Class C Office Space$14.45
  • North Carolina Class A & A+ Office Space$34.49
  • North Carolina Class B Office Space$26.63
  • North Carolina Class C Office Space$19.48

Greensboro, NC Office Asking Rents by Class

Average office rent in Greensboro rested at $19.59 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 Greensboro averaged $22.93 per square foot. Across all submarkets, class B office space recorded an average asking rent of $18.51 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $14.45 per square foot, on average. Comparably, statewide North Carolina average office rents by class in 2024 were: $34.49 per square foot for class A office space; $26.63 per square foot for class B office space; $19.48 per square foot for class C office space.

2024 Office Vacancy Rates in Greensboro

Submarket Asking Rents Vacancy Rates
Greensboro CBD $24.92 18.60%
Airport - NW Guilford County $19.88 29.98%
North Greensboro - North Guilford County $19.81 18.06%
High Point - SW Guilford County $19.50 25.11%
South Greensboro $16.33 50.49%
East Guilford County $15.00 79.07%
West Greensboro $14.90 15.26%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Greensboro market was 20.79% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Greensboro was 15.26% in the West Greensboro submarket, while the highest office vacancy in the market was 79.07%, recorded in East Guilford County.

Office Spaces for Rent in North Carolina

Greensboro Office Sale Price per SF

  • $299.892024 Avg. Price per SF
  • $103.6M2024 Office Sales Volume
  • 52024 Number of Transactions

Greensboro, NC Sale Price per SF Trend

  • Greensboro Avg. Sale Price per SF in 2024$299.89
  • North Carolina Avg. Sale Price per SF in 2024$182.30
The sale price for office space in Greensboro averaged $299.89 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide North Carolina average office sale price during the same time period was $182.30 per square foot.

2024 Office Sales Volume

  • Greensboro, NC Total Office Sales Volume in 2024 $103.6M
  • Greensboro, NC Total Number of Office Sales Closed in 2024 5
A total of 5 deals closed on the Greensboro office market in 2024, adding up to a yearly sales volume of $103.6M. Notably, the largest transaction on the market saw Church Street Medical Park change hands for $45,179,000 on 7/1/2024.
Data provided by Commercial Edge

Coworking Spaces in North Carolina

2024 Office Construction in Greensboro, NC

  • Greensboro, NC Total SF under construction in 2025 209,014
Largest Office Properties Recently Completed in Greensboro
Office building Address SF Completed
4100 Lawndale Dr 4100 Lawndale Dr, 27455 24,000 2025
3200 Horse Pen Creek Rd 3200 Horse Pen Creek Rd, 27410 13,700 2024
400 Bellemeade St 400 Bellemeade St, 27401 110,306 2021
Gateway Business Center 2400 Freeman Mill Road, 27406 37,000 2003
Lake Jeanette Station 3610 N. Elm Street, 27455 17,250 2003
Highwoods Park I 1501 Highwoods Blvd, 27410 97,372 2001
Green Valley Office Park 804 Green Valley Rd, 27408 75,000 2001
3803 N Elm St 3803 N Elm St, 27455 163,871 2000
Green Valley Office Park - 800 Green Valley Road 800 Green Valley Road, 27408 127,036 2000
Centreport Five 7900 Triad Center Dr, 27409 87,260 1999

Worth noting among recent office completions on the Greensboro market is 4100 Lawndale Dr, which is currently the largest new office development in the city, at 24,000 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 Greensboro 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.