Buffalo Office Rent Price & Sales Report

Highlights

  • The average rent for office space in Buffalo is $17.93 per square foot, 8.36% higher compared to the previous year.
  • The average sale price for office space in Buffalo is $44.31 per square foot, marking an increase of 30.51% compared to 2024.
  • The market’s vacancy rate stands at 12.00%, lower than the state average of New York, which is 18.11%.
  • 36,000 square feet is currently under construction.

2025 Office Space Rent & Sales

  • $17.93 2025 Avg. Asking Rent
  • 8.36% Y-o-Y Avg. Asking Rent Change
  • 12.00% 2025 Office Vacancy Rate
  • $10.1M2025 Total Office Sales
  • $44.31Avg. Sale Price/SF

What is the average asking rent price for office space in Buffalo?

Average asking rents for office space here stand at $17.93 per square foot. The local office market recorded an average vacancy rate of 12.00% in 2025, unchanged from 12.00% in 2024.

Office transactions in the local market in 2025 totaled a sales volume of $10.1M across 3 sales. These transactions commanded an average sale price per square foot of $44.31.

Buffalo, NY Office Asking Rents by Class

What is the average office rent per square foot by property class in NY?

  • Avg. Asking Rent Class A & A+$55.44
  • Avg. Asking Rent Class B$43.40
  • Avg. Asking Rent Class C$32.95

For comparison, the average rent for Class A and A+ office space in New York was $55.44 per square foot. The state-wide average for Class B space was $43.40 per square foot, and Class C office spaces averaged $32.95 per square foot.

Buffalo, NY Office Indicators by Submarket

In 2025, the submarket with the lowest office vacancy rate in Buffalo was Buffalo - North at 5.20%. Meanwhile, the highest office vacancy rate in the market was 32.99%, recorded in Buffalo- Central.
Submarket Asking Rents Vacancy Rates
Lackawanna - Orchard Park $33.14 12.14%
Buffalo - Central Business District $20.67 8.44%
Buffalo- Central $18.92 32.99%
University $15.76 17.86%
Buffalo - North $15.00 5.20%
Airport $14.33 15.26%
Outlying Erie County $13.00 14.07%
Data provided by Yardi Research

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2025 Office Sales Volume

  • $44.312025 Avg. Price per SF
  • 30.51%Y-o-Y Avg. PpSF Change
  • $10.1M2025 Office Sales Volume
  • 32025 Number of Transactions

What is the average sale price per square foot for office space in Buffalo?

Average sale prices for office space in this market recorded a +30.51% change in 2025 compared to the previous year.
Office transactions recorded in the market in 2025 averaged $44.31 per square foot. For comparison, the statewide New York average during the same time period stood at $395.22 per square foot, while the national average was $182.48 per square foot.

Buffalo, NY Sale Price per SF Trend

  • Buffalo Avg. Sale Price per SF in 2025$44.31
  • New York Avg. Sale Price per SF in 2025$395.22

What was the total office sales volume in Buffalo in 2025?

The local office market recorded 3 deals in 2025, adding up to a yearly sales volume of $10.1M.

  • Buffalo, NY Total Office Sales Volume in 2025 $10.1M
  • Buffalo, NY Total Number of Office Sales Closed in 2025 3
Data provided by Yardi Research

Office Construction in Buffalo, NY

  • Buffalo, NY Total SF under construction in 2026 36,000

What are the largest recent office completions in Buffalo?

The largest recent office completion here is 257 West Genesee Street at 430,458 square feet, completed in 2007. The next largest completions are Conventus and 200 Delaware Avenue.

Office building Address SF Completed
450 S Park Ave 450 S Park Ave, 14204 13,000 2025
HANSA workspace (Private Offices & Coworking) 505 Ellicott Street, 14203 32,000 2020
79 Perry Street 79 Perry Street, 14203 3,680 2020
45 Jewett Avenue 45 Jewett Avenue, 14214 44,544 2018
520 Ellicott Street 520 Ellicott St, 14203 22,052 2017
Conventus 1001 Main Street, 14203 335,000 2015
200 Delaware Avenue 200 Delaware Avenue, 14202 328,661 2009
257 West Genesee Street 257 West Genesee Street, 14202 430,458 2007
WNY Medical Arts Center 700 Michigan Avenue, 14203 30,000 2007
Federal Center 130 Delaware Avenue, 14202 141,733 1994
Data provided by Yardi Research

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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.