2023 Office Space Rent & Sales
- $22.70 2023 Avg. Asking Rent
- -0.20% Y-o-Y Avg. Asking Rent Change
- 24.67% 2023 Office Vacancy Rate
North Wales office price per square foot in 2023 was $22.70 on average. This marked a -0.20% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 24.67% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Pennsylvania Class A & A+ Office Space$32.78
- Pennsylvania Class B Office Space$24.45
- Pennsylvania Class C Office Space$29.06
North Wales, PA Office Asking Rents by Class
Office Spaces for Rent in Pennsylvania
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| Office building | Address | SF | Completed |
|---|---|---|---|
| Gwynedd Corporate Center | 1140 Welsh Road, 19454 | 42,600 | 1999 |
| Gwynedd Corporate Center II | 1140 Welsh Road, 19454 | 42,000 | 1999 |
| Gwynedd Corporate Center | 1120 Welsh Road, 19454 | 37,615 | 1998 |
| Gwynedd Corporate Center | 1120 Welsh Road, 19454 | 37,615 | 1998 |
| 118 Dickerson Rd | 118 Dickerson Rd, 19454 | 8,000 | 1993 |
| 736 Lower State Rd | 736 Lower State Rd, 19454 | 9,348 | 1875 |
| Steever Manor Professional Center | 1501 Lower State Road, 19454 | 26,400 | 1850 |
Worth noting among recent office completions on the North Wales market is Gwynedd Corporate Center, which is currently the largest new office development in the city, at 42,600 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 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 North Wales 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.