Harrisburg Office Rent Price & Sales Report

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%
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 Harrisburg market was 17.97% in 2022. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Harrisburg was 9.17% in the Harrisburg - CBD submarket, while the highest office vacancy in the market was 38.81%, recorded in Harrisburg - Southeast.

Office Spaces for Rent in Pennsylvania

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
The sale price for office space in Harrisburg averaged $113.49 per square foot in 2022, across all market subdivisions and asset classes. Conversely, the statewide Pennsylvania average office sale price during the same time period was $166.72 per square foot.

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
A total of 8 deals closed on the Harrisburg office market in 2022, adding up to a yearly sales volume of $36.1M. Notably, the largest transaction on the market saw TecPort Business Center - 3801 Paxton Street change hands for $9,500,000 on 5/26/2022.

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
Data provided by Commercial Edge

Coworking Spaces in Pennsylvania

Largest Office Properties Recently Completed in Harrisburg
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.

Data provided by Commercial Edge

See reports for other 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 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.