Rochester Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $17.40 2024 Avg. Asking Rent
  • 11.16% 2024 Office Vacancy Rate
  • $121.5M2024 Total Office Sales
  • $88.54Avg. Sale Price/SF

Rochester office price per square foot in 2024 was $17.40 on average. The local office market recorded an average vacancy rate of 11.16% across all asset classes combined. The 11 transactions that closed here throughout 2024 amounted to a total sale volume of $121.5M. Rochester office space commanded an average sale price per square foot of $88.54.

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

  • Rochester Class A & A+ Office Space$20.09
  • Rochester Class B Office Space$17.11
  • Rochester Class C Office Space$12.12
  • New York Class A & A+ Office Space$59.04
  • New York Class B Office Space$43.55
  • New York Class C Office Space$35.67

Rochester, NY Office Asking Rents by Class

Average office rent in Rochester rested at $17.40 per square foot in 2024. 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 Rochester averaged $20.09 per square foot. Across all submarkets, class B office space recorded an average asking rent of $17.11 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $12.12 per square foot, on average. Comparably, statewide New York average office rents by class in 2024 were: $59.04 per square foot for class A office space; $43.55 per square foot for class B office space; $35.67 per square foot for class C office space.

2024 Office Vacancy Rates in Rochester

Submarket Asking Rents Vacancy Rates
Pittsford $19.50 16.03%
CBD $19.03 6.83%
Brighton $18.21 16.54%
Henrietta $16.41 10.73%
Gates - Greece $14.92 34.31%
Greater Rochester $14.12 11.23%
Data provided by Commercial Edge
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 Rochester market was 11.16% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Rochester was 6.83% in the CBD submarket, while the highest office vacancy in the market was 34.31%, recorded in Gates - Greece.

Office Spaces for Rent in New York

Rochester Office Sale Price per SF

  • $88.542024 Avg. Price per SF
  • 22.72%Y-o-Y Avg. PpSF Change
  • $121.5M2024 Office Sales Volume
  • 112024 Number of Transactions

Rochester, NY Sale Price per SF Trend

  • Rochester Avg. Sale Price per SF in 2024$88.54
  • New York Avg. Sale Price per SF in 2024$291.24
Rochester office space cost in 2024 marked a +22.72% change compared to the previous year. The sale price for office space in Rochester averaged $88.54 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide New York average office sale price during the same time period was $291.24 per square foot.

2024 Office Sales Volume

  • Rochester, NY Total Office Sales Volume in 2024 $121.5M
  • Rochester, NY Total Number of Office Sales Closed in 2024 11
A total of 11 deals closed on the Rochester office market in 2024, adding up to a yearly sales volume of $121.5M. Notably, the largest transaction on the market saw Unity at Ridgeway Medical Office Building change hands for $43,000,000 on 3/28/2024.

Largest Rochester Office Sales in 2024

Property name Address Date Price
Unity at Ridgeway Medical Office Building 2655 Ridgeway Avenue 3/28/2024 $43,000,000
Sawgrass Surgery Center 180 Sawgrass Drive 7/3/2024 $21,737,500
Calkins Corporate Park - 125 Red Creek Drive 125 Red Creek Drive 7/19/2024 $11,424,000
Calkins Corporate Park - 400 Red Creek Drive 400 Red Creek Drive 7/19/2024 $9,589,972
Hawkeye @ Lower Falls 1447 St. Paul Street 4/23/2024 $9,200,000
Data provided by Commercial Edge

Coworking Spaces in New York

2024 Office Construction in Rochester, NY

  • Rochester, NY Total SF completed in 2024 30,000
  • Rochester, NY Total SF under construction in 2025 26,000

During 2024, 30,000 square feet of new office space were delivered across the market. At the close of 2024, the Rochester office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 30,000 square feet of office space. Looking forward, development activity throughout 2025 is estimated to add 26,000 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Rochester
Office building Address SF Completed
Seneca Building 245 East Main Street, 14604 168,449 2012
Legacy Tower 1 Bausch & Lomb Place, 14604 460,517 1994
930 Carter St 930 Carter St, 14621 8,350 1985
First Federal Plaza 28 East Main Street, 14614 268,000 1977
Avani Business Park 687 Lee Road, 14606 37,236 1976
The Metropolitan 1 South Clinton Avenue, 14614 474,325 1973
Xerox Square 100 South Clinton Avenue, 14604 580,000 1968
One East Avenue 1 East Avenue, 14604 99,921 1963
1495 Lake Ave 1495 Lake Ave, 14615 6,426 1950
1495 Lake Ave 1495 Lake Ave, 14615 6,426 1950

Worth noting among recent office completions on the Rochester market is Seneca Building, which is currently the largest new office development in the city, at 168,449 square feet.

Data provided by Commercial Edge

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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 CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Rochester 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.