Highlights
- The average rent for office space in Morrisville is $30.49 per square foot, 3.72% higher compared to the previous year.
- The market’s vacancy rate stands at 26.16%, higher than the state average of North Carolina, which is 18.06%.
2025 Office Space Rent & Sales
- $30.49 2025 Avg. Asking Rent
- 3.72% Y-o-Y Avg. Asking Rent Change
- 26.16% 2025 Office Vacancy Rate
What is the average asking rent price for office space in Morrisville?
Average asking rents for office space here stand at $30.49 per square foot. The local office market recorded an average vacancy rate of 26.16% in 2025, unchanged from 26.16% in 2024.
Morrisville, NC Office Asking Rents by Class
What is the average office rent per square foot by property class in Morrisville?
- Avg. Asking Rent Class A & A+$31.79
- Avg. Asking Rent Class B$28.67
What is the average office rent per square foot by property class in NC?
- Avg. Asking Rent Class A & A+$34.61
- Avg. Asking Rent Class B$27.56
- Avg. Asking Rent Class C$18.16
For comparison, the average rent for Class A and A+ office space in North Carolina was $34.61 per square foot. The state-wide average for Class B space was $27.56 per square foot, and Class C office spaces averaged $18.16 per square foot.
Morrisville, NC Office Indicators by Submarket
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Research Triangle Park | $33.02 | 23.58% |
| Airport - Northwest Raleigh | $30.82 | 21.40% |
| Southeast Durham | $30.33 | 30.69% |
| Morrisville | $29.89 | 26.72% |
Office Construction in Morrisville, NC
What are the largest recent office completions in Morrisville?
The largest recent office completion here is Research Triangle Park - 7033 Louis Stephens Drive at 211,203 square feet, completed in 2006. The next largest completions are Perimeter Park: Perimeter Two and Perimeter Park: Perimeter One.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Pathway Triangle - Building 1 | 1000 Science Drive, 27560 | 168,000 | 2024 |
| Forty540 - Building 2 | 710 Slater Road, 27560 | 198,535 | 2021 |
| Perimeter Park - 4000 Paramount | 4000 Paramount Pkwy, 27560 | 90,000 | 2021 |
| Perimeter Park - Perimeter Six | 1010 Sync Street, 27560 | 195,687 | 2019 |
| Perimeter Park: Perimeter Two | 3020 Carrington Mill Blvd, 27560 | 209,657 | 2014 |
| Perimeter Park - 5221 Paramount Pkwy | 5221 Paramount Pkwy, 27560 | 140,192 | 2008 |
| RDU Center III | 2121 RDU Center Drive, 27560 | 114,518 | 2008 |
| Perimeter Park: Perimeter One | 3005 Carrington Mill Blvd, 27560 | 204,000 | 2007 |
| Research Triangle Park - 7033 Louis Stephens Drive | 7033 Louis Stephens Drive, 27560 | 211,203 | 2006 |
| Lenovo USA - Building 2 | 1025 Think Place, 27560 | 189,810 | 2006 |
See reports for other markets
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Disclaimer
All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.
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 Yardi Research Data can guarantee that the information provided is complete.