Wilmington Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $26.35 2024 Avg. Asking Rent
  • 9.95% 2024 Office Vacancy Rate

Wilmington office price per square foot in 2024 was $26.35 on average. The local office market recorded an average vacancy rate of 9.95% across all asset classes combined.

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

  • 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

Wilmington, NC Office Asking Rents by Class

2024 Office Vacancy Rates in Wilmington

Submarket Asking Rents Vacancy Rates
Landfall - Mayfaire $28.24 6.53%
East $26.00 4.43%
Downtown Wilmington $25.86 20.61%
Northern New Hanover County $24.00 4.26%
Midtown $23.11 1.67%
Data provided by Yardi Research
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 Wilmington market was 9.95% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Wilmington was 1.67% in the Midtown submarket, while the highest office vacancy in the market was 20.61%, recorded in Downtown Wilmington.

Office Spaces for Rent in North Carolina

Coworking Spaces in North Carolina

2024 Office Construction in Wilmington, NC

  • Wilmington, NC Total SF under construction in 2025 30,000
Largest Office Properties Recently Completed in Wilmington
Office building Address SF Completed
6014 Wrightsville Ave 6014 Wrightsville Ave, 28403 10,800 2022
7242 Wrightsville Ave 7242 Wrightsville Ave, 28403 5,568 2017
101 North 3rd Street 101 North 3rd Street, 28401 69,000 2014
The Pines at Westfall Park - 1838 Sir Tyler Drive 1838 Sir Tyler Drive, 28405 32,764 2007
Skyline Center 929 North Front Street, 28401 380,063 2006
1001 Military Cutoff Road 1001 Military Cutoff Road, 28405 62,395 2006
Third & Grace Building 300 North 3rd Street, 28401 67,248 2002
2528 Independence Blvd 2528 Independence Blvd, 28412 24,096 1999
Military Cutoff Office Suite 1442 Military Cutoff Rd , 28403 12,900 1995
The Harrelson Building 115 North 3rd Street, 28401 46,863 1990

Worth noting among recent office completions on the Wilmington market is 6014 Wrightsville Ave, which is currently the largest new office development in the city, at 10,800 square feet.

Data provided by Yardi Research

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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 Yardi Research Data, a market intelligence solution which offers comprehensive real market knowledge on all Wilmington 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 Yardi Research Data can guarantee that the information provided is complete.