2023 Office Space Rent & Sales
- $31.07 2023 Avg. Asking Rent
- 13.21% 2023 Office Vacancy Rate
Portsmouth office price per square foot in 2023 was $31.07 on average. The local office market recorded an average vacancy rate of 13.21% across all asset classes combined.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Portsmouth Class A & A+ Office Space$32.92
- Portsmouth Class B Office Space$31.44
- Portsmouth Class C Office Space$26.50
- New Hampshire Class A & A+ Office Space$34.82
- New Hampshire Class B Office Space$26.83
- New Hampshire Class C Office Space$27.88
Portsmouth, NH Office Asking Rents by Class
Average office rent in Portsmouth rested at $31.07 per square foot in 2023. 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 Portsmouth averaged $32.92 per square foot. Across all submarkets, class B office space recorded an average asking rent of $31.44 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $26.50 per square foot, on average. Comparably, statewide New Hampshire average office rents by class in 2023 were: $34.82 per square foot for class A office space; $26.83 per square foot for class B office space; $27.88 per square foot for class C office space.
Coworking Spaces in New Hampshire
- New York City Coworking Space
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- Bethesda Coworking Space
- Richmond Coworking Space
2023 Office Construction in Portsmouth, NH
Office building | Address | SF | Completed |
---|---|---|---|
145 Maplewood Avenue | 145 Maplewood Avenue, 03801 | 73,731 | 2021 |
233 Vaughan Street, Unit 102, Portsmouth, NH | 233 Vaughan St Ste 102, 03801 | 5,606 | 2015 |
111 New Hampshire Avenue | 111 New Hampshire Avenue, 03801 | 74,134 | 2007 |
10 Commercial Aly | 10 Commercial Aly, 03801 | 6,251 | 2007 |
130 International Drive | 130 International Drive, 03801 | 50,687 | 2002 |
Pease International Tradeport | 325 Corporate Drive, 03801 | 100,928 | 2001 |
273 Corporate Drive | 273 Corporate Drive, 03801 | 100,000 | 2001 |
100 Market Street | 100 Market Street, 03801 | 57,455 | 1999 |
2 International Drive | 2 International Drive, 03801 | 88,467 | 1998 |
125 Aviation Avenue, Portsmouth, NH | 125 Aviation Ave, 03801 | 65,212 | 1998 |
Worth noting among recent office completions on the Portsmouth market is 145 Maplewood Avenue, which is currently the largest new office development in the city, at 73,731 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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Portsmouth 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.