2022 Office Space Rent & Sales
- $20.98 2022 Avg. Asking Rent
- -0.51% Y-o-Y Avg. Asking Rent Change
- 10.17% 2022 Office Vacancy Rate
- $33.8M2022 Total Office Sales
- $67.32Avg. Sale Price/SF
Rochester office price per square foot in 2022 was $20.98 on average. This marked a -0.51% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 10.17% across all asset classes combined. The 8 transactions that closed here throughout 2022 amounted to a total sale volume of $33.8M. Rochester office space commanded an average sale price per square foot of $67.32.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Rochester Class A & A+ Office Space$22.45
- Rochester Class B Office Space$20.70
- Rochester Class C Office Space$13.26
- New York Class A & A+ Office Space$43.80
- New York Class B Office Space$36.92
- New York Class C Office Space$32.91
Rochester, NY Office Asking Rents by Class
Average office rent in Rochester rested at $20.98 per square foot in 2022. 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 $22.45 per square foot. Across all submarkets, class B office space recorded an average asking rent of $20.70 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $13.26 per square foot, on average. Comparably, statewide New York average office rents by class in 2022 were: $43.80 per square foot for class A office space; $36.92 per square foot for class B office space; $32.91 per square foot for class C office space.
2022 Office Vacancy Rates in Rochester
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Pittsford | $23.84 | 15.71% |
Brighton | $21.64 | 16.25% |
Henrietta | $21.48 | 5.40% |
CBD | $21.39 | 11.17% |
Gates - Greece | $19.65 | 1.41% |
Greater Rochester | $18.53 | 11.41% |
Rochester Office Sale Price per SF
- $67.322022 Avg. Price per SF
- 16.40%Y-o-Y Avg. PpSF Change
- $33.8M2022 Office Sales Volume
- 82022 Number of Transactions
Rochester, NY Sale Price per SF Trend
- Rochester Avg. Sale Price per SF in 2022$67.32
- New York Avg. Sale Price per SF in 2022$383.47
2022 Office Sales Volume
- Rochester, NY Total Office Sales Volume in 2022 $33.8M
- Rochester, NY Total Number of Office Sales Closed in 2022 8
Largest Rochester Office Sales in 2022
Property name | Address | Date | Price |
---|---|---|---|
150 Sawgrass Drive | 150 Sawgrass Drive | 10/28/2022 | $10,000,000 |
Henrietta Shopping Center | 1180 Jefferson Road | 9/23/2022 | $9,425,000 |
77 Ridgeland Road | 77 Ridgeland Road | 10/14/2022 | $3,407,322 |
2975 Brighton Henrietta Town Line Road | 2975 Brighton Henrietta Town Line Road | 11/22/2022 | $3,400,000 |
150 Mt. Hope Avenue | 150 Mount Hope Avenue | 12/9/2022 | $3,400,000 |
Coworking Spaces in New York
- Washington Coworking Space
- Boston Coworking Space
- Philadelphia Coworking Space
- Columbus Coworking Space
- Cincinnati Coworking Space
- Pittsburgh Coworking Space
- Arlington Coworking Space
- Alexandria Coworking Space
- Cambridge Coworking Space
- Jersey City Coworking Space
- Cleveland Coworking Space
- Dublin Coworking Space
- Princeton Coworking Space
- Richmond Coworking Space
- Stamford Coworking Space
- Newark Coworking Space
2022 Office Construction in Rochester, NY
Office building | Address | SF | Completed |
---|---|---|---|
260 East Broad Street | 260 East Broad Street, 14604 | 106,000 | 2021 |
Sibley Square | 250 East Main Street, 14604 | 472,836 | 2018 |
Seneca Building | 245 East Main Street, 14604 | 168,449 | 2012 |
61 Commercial Street | 61 Commercial Street, 14614 | 54,000 | 2007 |
Buckingham Commons | 85 Allen Street, 14608 | 72,800 | 2006 |
The Michaels-Stern Building | 87 North Clinton Avenue, 14604 | 122,500 | 2002 |
192 & 194 Mill Street | 192 Mill Street, 14614 | 52,926 | 1999 |
Legacy Tower | 1 Bausch & Lomb Place, 14604 | 460,517 | 1994 |
University Business Center - Building 1 | 1040 University Avenue, 14607 | 48,446 | 1990 |
Corporate Place | 255 East Avenue, 14604 | 152,000 | 1986 |
Worth noting among recent office completions on the Rochester market is 260 East Broad Street, which is currently the largest new office development in the city, at 106,000 square feet.
See reports for other markets
- New York City Office Rent Price
- Brooklyn Office Rent Price
- Buffalo Office Rent Price
- Colonie Town Office Rent Price
- Albany Office Rent Price
- Syracuse Office Rent Price
- Melville Office Rent Price
- White Plains Office Rent Price
- Great Neck Office Rent Price
- San Antonio Office Rent Price
- Charlotte Office Rent Price
- Los Angeles Office Rent Price
- Denver Office Rent Price
- Chicago Office Rent Price
- Phoenix Office Rent Price
- Atlanta Office Rent Price
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 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. 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.