2020 Office Space Rent & Sales
- $33.61 2020 Avg. Asking Rent
- 23.58% 2020 Office Vacancy Rate
King of Prussia office price per square foot in 2020 was $33.61 on average. The local office market recorded an average vacancy rate of 23.58% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- King of Prussia Class A Office Space$47.76
- King of Prussia Class B Office Space$31.92
- King of Prussia Class C Office Space$22.83
- Pennsylvania Class A Office Space$31.04
- Pennsylvania Class B Office Space$24.78
- Pennsylvania Class C Office Space$20.82
King of Prussia, PA Office Asking Rents by Class
Average office rent in King of Prussia rested at $33.61 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 King of Prussia averaged $47.76 per square foot. Across all submarkets, class B office space recorded an average asking rent of $31.92 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $22.83 per square foot, on average. Comparably, statewide Pennsylvania average office rents by class in 2020 were: $31.04 per square foot for class A office space; $24.78 per square foot for class B office space; $20.82 per square foot for class C office space.
2020 Office Construction in King of Prussia, PA
- King of Prussia, PA Total Sqft completed in 2020
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the King of Prussia office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.
|933 1st Avenue||933 1st Avenue, 19406||110,550||2017|
|1000 Continental||1000 Continental Drive, 19406||205,424||2006|
|1045 1st Avenue||1045 1st Avenue, 19406||29,750||2006|
|Renaissance Park - 2301 Renaissance Blvd||2301 Renaissance Blvd, 19406||197,000||2002|
|935 1st Avenue||935 1st Avenue, 19406||103,334||2002|
|BNY Mellon||760 Moore Road, 19406||230,132||2001|
|Corsair Series @ Renaissance Corsair I||2701 Renaissance Blvd, 19406||124,606||2001|
|Renaissance Business Park - 2201 Renaissance Blvd||2201 Renaissance Blvd, 19406||132,823||2000|
|Innovation Renaissance - 2560 Renaissance Blvd||2560 Renaissance Blvd, 19406||35,842||2000|
|Innovation Renaissance - 2300 & 2500 Renaissance Blvd & 2700 Horizon Drive||2300 Renaissance Blvd, 19406||106,500||1999|
Worth noting among recent office completions on the King of Prussia market is 933 1st Avenue, which is currently the largest new office development in the city, at 110,550 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 King of Prussia 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.