2023 Office Space Rent & Sales
- $19.48 2023 Avg. Asking Rent
- 4.08% Y-o-Y Avg. Asking Rent Change
- 10.75% 2023 Office Vacancy Rate
- $27.4M2023 Total Office Sales
- $89.42Avg. Sale Price/SF
Harrisburg office price per square foot in 2023 was $19.48 on average. This marked a +4.08% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 10.75% across all asset classes combined. The 5 transactions that closed here throughout 2023 amounted to a total sale volume of $27.4M. Harrisburg office space commanded an average sale price per square foot of $89.42.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Harrisburg Class A & A+ Office Space$21.49
- Harrisburg Class B Office Space$18.82
- Harrisburg Class C Office Space$15.58
- Pennsylvania Class A & A+ Office Space$32.78
- Pennsylvania Class B Office Space$24.45
- Pennsylvania Class C Office Space$29.06
Harrisburg, PA Office Asking Rents by Class
Average office rent in Harrisburg rested at $19.48 per square foot in 2023. 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 Harrisburg averaged $21.49 per square foot. Across all submarkets, class B office space recorded an average asking rent of $18.82 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $15.58 per square foot, on average. Comparably, statewide Pennsylvania average office rents by class in 2023 were: $32.78 per square foot for class A office space; $24.45 per square foot for class B office space; $29.06 per square foot for class C office space.
2023 Office Vacancy Rates in Harrisburg
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Harrisburg - East | $20.99 | 10.94% |
Harrisburg - Northeast | $19.60 | 22.21% |
Harrisburg - Southeast | $18.61 | 4.88% |
Harrisburg - CBD | $18.06 | 6.55% |
Harrisburg Office Sale Price per SF
- $89.422023 Avg. Price per SF
- -21.21%Y-o-Y Avg. PpSF Change
- $27.4M2023 Office Sales Volume
- 52023 Number of Transactions
Harrisburg, PA Sale Price per SF Trend
- Harrisburg Avg. Sale Price per SF in 2023$89.42
- Pennsylvania Avg. Sale Price per SF in 2023$124.26
2023 Office Sales Volume
- Harrisburg, PA Total Office Sales Volume in 2023 $27.4M
- Harrisburg, PA Total Number of Office Sales Closed in 2023 5
Coworking Spaces in Pennsylvania
- New York City Coworking Space
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- Ann Arbor Coworking Space
2023 Office Construction in Harrisburg, PA
Office building | Address | SF | Completed |
---|---|---|---|
Campus Square | 1426 N. 3rd Street, 17102 | 70,000 | 2008 |
5 Capital Drive | 5 Capital Drive, 17110 | 54,345 | 2008 |
479 Port View Drive | 479 Port View Drive, 17111 | 14,664 | 2008 |
479 Port View Drive | 479 Port View Drive, 17111 | 14,664 | 2008 |
2850 Commerce Drive | 2850 Commerce Drive, 17110 | 17,000 | 2006 |
Market Square Plaza | 17 North 2nd Street, 17101 | 172,629 | 2005 |
1000 Briarsdale | 1000 Briarsdale, 17109 | 4,092 | 2005 |
4812 Jonestown Road | 4812 Jonestown , 17112 | 1,012 | 2004 |
4812 Jonestown Road | 4812 Jonestown , 17112 | 1,012 | 2004 |
Crums Mill Corporate Center - 4250 Crums Mill Road | 4250 Crums Mill Road, 17112 | 73,900 | 2001 |
Worth noting among recent office completions on the Harrisburg market is Campus Square, which is currently the largest new office development in the city, at 70,000 square feet.
See reports for other markets
- Pittsburgh Office Rent Price
- Philadelphia Office Rent Price
- West Chester Office Rent Price
- Lancaster Office Rent Price
- Exton Office Rent Price
- Mechanicsburg Office Rent Price
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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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Harrisburg 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.