Melville Office Market Trends

Office Rental Market

  • $30.74 2019 Avg. Asking Rent
  • 10.16 % 2019 Avg. Vacancy Rate
  • 196,000 2019 Office Completions (Sqft)
  • 0 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Melville was $30.74 per square foot, and the office vacancy rate across the market averaged 10.16 %. During 2019, developers added 196,000 square feet of new office space to the Melville market inventory. Office developments estimated for delivery during 2020 total 0 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Melville Class A Office Buildings$33.37
  • Melville Class B Office Buildings$30.83
  • Melville Class C Office Buildings$27.15
  • NY Class A Office Buildings$71.98
  • NY Class B Office Buildings$36.81
  • NY Class C Office Buildings$24.83

Melville, NY Office Asking Rents by Class

Office asking rents vary across the Melville office market depending on several factors, one of which is property class. While rents for Class A office buildings in Melville averaged $33.37 per square foot in 2019, Class B office properties garnered average rental rates of $30.83 per square foot. Rental rates for Class C office property in Melville averaged $27.15 per square foot. On a statewide level, Class B office space rents averaged $36.81 per square foot, while rents for Class A office space across New York averaged $71.98 per square foot. On average, Class C office properties in New York commanded rents of $24.83 per square foot.

OFFICE CONSTRUCTION IN Melville, NY

  • Melville, NY Total Sqft completed in 2019 196,000
  • Melville, NY Total Sqft under construction in 2020 0
10 Largest Office Buildings in Melville
Building name Address Total Sqft Year built
Canon USA Headquarters 1 Canon Park, 11747 768,000 2013
3 Huntington Quadrangle 3 Huntington Quadrangle, 11747 407,129 1973
2 Huntington Quadrangle 2 Huntington Quadrangle, 11747 400,000 1972
1 Huntington Quadrangle 1 Huntington Quadrangle, 11747 365,000 1972
RXR Executive Park - 68 South Service Road 68 South Service Road, 11747 307,754 2006
1285 Walt Whitman Road 1285 Walt Whitman Road, 11747 300,000 1960
RXR Executive Park - 58 South Service Road 58 South Service Road, 11747 285,571 2002
Melville Office Plaza 445 Broadhollow Road, 11747 273,000 1980
2 Corporate Center Drive 2 Corporate Center Drive, 11747 270,430 1985
300 Broadhollow Road 300 Broadhollow Road, 11747 242,292 1989
Largest Office Properties Recently Completed in Melville
Office building Address Sqft Completed
Canon USA Headquarters 1 Canon Park, 11747 768,000 2013
Rubie Corporate Plaza 400 Broadhollow Road, 11747 124,000 2010
1860 Walt Whitman Road 1860 Walt Whitman Road, 11747 42,000 2009
Melville Corporate Center III 324 South Service Road, 11747 133,050 2007
RXR Executive Park - 68 South Service Road 68 South Service Road, 11747 307,754 2006
40 Marcus Drive 40 Marcus Drive, 11747 50,000 2005
1307 Walt Whitman Road 1307 Walt Whitman Road, 11747 198,773 2004
Melville Corporate Center II 330 South Service Road, 11747 88,000 2003
RXR Executive Park - 58 South Service Road 58 South Service Road, 11747 285,571 2002
Melville Corporate Center I 105 Maxess Road, 11747 149,000 2001
Data provided by Commercial Edge

Office Spaces for Rent in New York

See trends for nearby markets

The Melville office market contains an inventory of 9,950,811 square feet of office space, in 79 buildings that are equal to or larger than 25,000 square feet.

This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive knowledge on all Melville 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.