2022 Office Space Rent & Sales
- $18.71 2022 Avg. Asking Rent
- 17.97% 2022 Office Vacancy Rate
- $36.1M2022 Total Office Sales
- $113.49Avg. Sale Price/SF
Harrisburg office price per square foot in 2022 was $18.71 on average. The local office market recorded an average vacancy rate of 17.97% across all asset classes combined. The 8 transactions that closed here throughout 2022 amounted to a total sale volume of $36.1M. Harrisburg office space commanded an average sale price per square foot of $113.49.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Harrisburg Class A & A+ Office Space$20.25
- Harrisburg Class B Office Space$18.18
- Harrisburg Class C Office Space$15.94
- Pennsylvania Class A & A+ Office Space$32.08
- Pennsylvania Class B Office Space$25.35
- Pennsylvania Class C Office Space$19.66
Harrisburg, PA Office Asking Rents by Class
Average office rent in Harrisburg rested at $18.71 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 Harrisburg averaged $20.25 per square foot. Across all submarkets, class B office space recorded an average asking rent of $18.18 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $15.94 per square foot, on average. Comparably, statewide Pennsylvania average office rents by class in 2022 were: $32.08 per square foot for class A office space; $25.35 per square foot for class B office space; $19.66 per square foot for class C office space.
2022 Office Vacancy Rates in Harrisburg
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Harrisburg - East | $19.55 | 17.26% |
Harrisburg - Northeast | $18.91 | 28.02% |
Harrisburg - CBD | $18.39 | 9.17% |
Harrisburg - Southeast | $17.83 | 38.81% |
Harrisburg Office Sale Price per SF
- $113.492022 Avg. Price per SF
- $36.1M2022 Office Sales Volume
- 82022 Number of Transactions
Harrisburg, PA Sale Price per SF Trend
- Harrisburg Avg. Sale Price per SF in 2022$113.49
- Pennsylvania Avg. Sale Price per SF in 2022$166.72
2022 Office Sales Volume
- Harrisburg, PA Total Office Sales Volume in 2022 $36.1M
- Harrisburg, PA Total Number of Office Sales Closed in 2022 8
Largest Harrisburg Office Sales in 2022
Property name | Address | Date | Price |
---|---|---|---|
TecPort Business Center - 3801 Paxton Street | 3801 Paxton Street | 5/26/2022 | $9,500,000 |
3101 North Front Street | 3101 North Front Street | 10/26/2022 | $2,800,000 |
4309 Linglestown Road | 4309 Linglestown Road | 2/23/2022 | $2,100,000 |
845 Sir Thomas Court | 845 Sir Thomas Court | 6/9/2022 | $2,050,000 |
470 Friendship Road | 470 Friendship Road | 12/30/2022 | $1,400,000 |
Coworking Spaces in Pennsylvania
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- King of Prussia Coworking Space
- Newtown Coworking Space
Office building | Address | SF | Completed |
---|---|---|---|
4050 Crums Mill Road | 4050 Crums Mill Road, 17112 | 75,000 | 2016 |
1426 N. 3rd Street - 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 |
Office Space-Lease | 4230 Crums Mill Road, 17112 | 24,568 | 2007 |
4507 North Front Street | 4507 North Front Street, 17110 | 41,400 | 2006 |
4507 North Front Street | 4507 North Front Street, 17110 | 41,400 | 2006 |
2850 Commerce Drive | 2850 Commerce Drive, 17110 | 17,000 | 2006 |
Market Square Plaza | 17 North 2nd Street, 17101 | 172,629 | 2005 |
Sturbridge Business Park | 4386 Sturbridge Drive, 17110 | 12,544 | 2005 |
Worth noting among recent office completions on the Harrisburg market is 4050 Crums Mill Road, which is currently the largest new office development in the city, at 75,000 square feet.
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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 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 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.