2021 Office Space Rent & Sales
- $19.22 2021 Avg. Asking Rent
- 10.30% 2021 Office Vacancy Rate
- $89.3M2021 Total Office Sales
- $119.99Avg. Sale Price/SF
Greensboro office price per square foot in 2021 was $19.22 on average. The local office market recorded an average vacancy rate of 10.30% across all asset classes combined. The 8 transactions that closed here throughout 2021 amounted to a total sale volume of $89.3M. Greensboro office space commanded an average sale price per square foot of $119.99.
Average Rent by Office Class
2021 Average Office Rent per Square Foot
- Greensboro Class A & A+ Office Space$22.28
- Greensboro Class B Office Space$16.51
- Greensboro Class C Office Space$18.01
- North Carolina Class A & A+ Office Space$30.03
- North Carolina Class B Office Space$23.99
- North Carolina Class C Office Space$18.96
Greensboro, NC Office Asking Rents by Class
Average office rent in Greensboro rested at $19.22 per square foot in 2021. 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 $22.28 per square foot. Across all submarkets, class B office space recorded an average asking rent of $16.51 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $18.01 per square foot, on average. Comparably, statewide North Carolina average office rents by class in 2021 were: $30.03 per square foot for class A office space; $23.99 per square foot for class B office space; $18.96 per square foot for class C office space.
2021 Office Vacancy Rates in Greensboro
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Greensboro CBD | $23.69 | 8.69% |
West Greensboro | $20.12 | 6.57% |
Airport - NW Guilford County | $16.82 | 9.34% |
Greensboro Office Sale Price per SF
- $119.992021 Avg. Price per SF
- -0.41%Y-o-Y Avg. PpSF Change
- $89.3M2021 Office Sales Volume
- 82021 Number of Transactions
Greensboro, NC Sale Price per SF Trend
- Greensboro Avg. Sale Price per SF in 2021$119.99
- North Carolina Avg. Sale Price per SF in 2021$292.62
2021 Office Sales Volume
- Greensboro, NC Total Office Sales Volume in 2021 $89.3M
- Greensboro, NC Total Number of Office Sales Closed in 2021 8
Largest Greensboro Office Sales in 2021
Property name | Address | Date | Price |
---|---|---|---|
Wells Fargo Tower | 300 North Greene Street | 12/2/2021 | $30,412,000 |
Volvo Building | 8003 Piedmont Triad Pkwy | 12/21/2021 | $27,844,500 |
2001 North Church Street | 2001 North Church Street | 6/29/2021 | $9,390,000 |
Asheville Building, The | 1500 Pinecroft Road | 1/4/2021 | $7,350,000 |
1301 Carolina Street | 1301 Carolina Street | 12/16/2021 | $5,272,793 |
Coworking Spaces in North Carolina
- Atlanta Coworking Space
- Chicago Coworking Space
- Washington Coworking Space
- Miami Coworking Space
- Philadelphia Coworking Space
- Charlotte Coworking Space
- Raleigh Coworking Space
- Durham Coworking Space
- Asheville Coworking Space
- Chapel Hill Coworking Space
- Cary Coworking Space
- Greensboro Coworking Space
- Wake Forest Coworking Space
- Wilmington Coworking Space
- Burlington Coworking Space
- Concord Coworking Space
- Fuquay Varina Coworking Space
- Holly Springs Coworking Space
- Shelby Coworking Space
- Winston - Salem Coworking Space
2021 Office Construction in Greensboro, NC
- Greensboro, NC Total SF under construction in 2022 312,200
Office building | Address | SF | Completed |
---|---|---|---|
2101 North Church Street | 2101 North Church Street, 27405 | 7,392 | 2023 |
400 Bellemeade St | 400 Bellemeade St, 27401 | 112,000 | 2021 |
2800 Lawndale Drive | 2800 Lawndale Drive, 27408 | 50,895 | 2017 |
3820 North Elm Street, Suite 601 | 3820 N Elm St, Suite 601, 27455 | 2,201 | 2008 |
Maple Professional Park | 1414 Yanceyville Street, 27405 | 37,230 | 2007 |
804 Green Valley Rd | 804 Green Valley Rd, 27408 | 75,000 | 2001 |
212 South Elm Street | 212 South Elm Street, 27401 | 45,310 | 2001 |
4280 Piedmont Parkway | 4280 Piedmont Parkway, 27410 | 16,000 | 2000 |
328 East Market Street #100 | 328 East Market Street, 27401 | 3,835 | 2000 |
Grandover Commons - 4508 & 4510 Weybridge Lane | 4508 Weybridge Lane, 27407 | 84,804 | 1999 |
Worth noting among recent office completions on the Greensboro market is 2101 North Church Street, which is currently the largest new office development in the city, at 7,392 square feet.
See reports for other markets
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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 2021 through December 31st 2021. Construction pipeline data represented herein is valid as of April 2022. 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.