2020 Office Space Rent & Sales
- $32.00 2020 Avg. Asking Rent
- 11.76% 2020 Office Vacancy Rate
Wayne office price per square foot in 2020 was $32.00 on average. The local office market recorded an average vacancy rate of 11.76% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Wayne Class A Office Space$36.19
- Wayne Class B Office Space$30.81
- Wayne Class C Office Space$24.75
- Pennsylvania Class A Office Space$31.04
- Pennsylvania Class B Office Space$24.78
- Pennsylvania Class C Office Space$20.82
Wayne, PA Office Asking Rents by Class
Average office rent in Wayne rested at $32.00 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 Wayne averaged $36.19 per square foot. Across all submarkets, class B office space recorded an average asking rent of $30.81 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $24.75 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 Wayne, PA
- Wayne, 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 Wayne office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.
|145 King of Prussia Road||145 King of Prussia Road, 19087||250,000||2020|
|Valley Forge Office Center - 656-676 East Swedesford Road||656 East Swedesford Road, 19087||146,639||2009|
|Chesterbrook Corporate Center - 1500-1550 Liberty Ridge Drive||1500 Liberty Ridge Drive, 19087||233,120||2002|
|Radnor Financial Center - 555 East Lancaster Avenue||555 East Lancaster Avenue, 19087||241,687||2000|
|680 East Swedesford Road||680 East Swedesford Road, 19087||102,500||1998|
|650 East Swedesford Road||650 East Swedesford Road, 19087||100,000||1998|
|280 King of Prussia Road||280 King of Prussia Road, 19087||60,000||1994|
|435 Devon Park Drive||435 Devon Park Drive, 19087||142,239||1990|
|Penn Medicine at Radnor||250 King of Prussia Road, 19087||250,000||1989|
|Chesterbrook Corporate Center - 725 & 735 Chesterbrook Blvd||725 Chesterbrook Blvd, 19087||219,734||1987|
Worth noting among recent office completions on the Wayne market is 145 King of Prussia Road, which is currently the largest new office development in the city, at 250,000 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 Wayne 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.