2020 Office Space Rent & Sales
- $38.13 2020 Avg. Asking Rent
- 13.50% 2020 Office Vacancy Rate
White Plains office price per square foot in 2020 was $38.13 on average. The local office market recorded an average vacancy rate of 13.50% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- White Plains Class A Office Space$41.61
- White Plains Class B Office Space$27.53
- White Plains Class C Office Space$20.28
- New York Class A Office Space$68.40
- New York Class B Office Space$34.41
- New York Class C Office Space$25.31
White Plains, NY Office Asking Rents by Class
Average office rent in White Plains rested at $38.13 per square foot in 2020. 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 White Plains averaged $41.61 per square foot. Across all submarkets, class B office space recorded an average asking rent of $27.53 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $20.28 per square foot, on average. Comparably, statewide New York average office rents by class in 2020 were: $68.40 per square foot for class A office space; $34.41 per square foot for class B office space; $25.31 per square foot for class C office space.
2020 Office Vacancy Rates in White Plains
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
White Plains - West | $38.49 | 12.06% |
White Plains - East | $37.03 | 16.48% |
2020 Office Construction in White Plains, NY
- White Plains, NY Total SF completed in 2020
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the White Plains office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.
Office building | Address | SF | Completed |
---|---|---|---|
Greenburgh Health Center | 295 Knollwood Road, 10607 | 30,000 | 2013 |
277 Martine Avenue | 277 Martine Avenue, 10601 | 40,000 | 2012 |
360 Hamilton Avenue | 360 Hamilton Avenue, 10601 | 393,710 | 2000 |
287 Corporate Plaza | 100 Hillside Avenue, 10603 | 133,997 | 1996 |
10 Bank Street | 10 Bank Street, 10606 | 235,285 | 1989 |
City Square - 50 Main Street | 50 Main Street, 10606 | 309,000 | 1986 |
City Square - 1-11 Martine Avenue | 11 Martine Avenue, 10606 | 263,039 | 1986 |
222 Bloomingdale Road | 222 Bloomingdale Road, 10605 | 142,172 | 1986 |
Gateway One | 1 North Lexington Avenue, 10601 | 525,000 | 1985 |
1111 & 1129 Westchester Avenue | 1111 Westchester Avenue, 10605 | 366,000 | 1985 |
Worth noting among recent office completions on the White Plains market is Greenburgh Health Center, which is currently the largest new office development in the city, at 30,000 square feet.
See reports for nearby markets
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 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all White Plains 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.