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)
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
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 |
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 |
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.