Wayne Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $34.87 2024 Avg. Asking Rent
  • 2.26% Y-o-Y Avg. Asking Rent Change
  • 16.35% 2024 Office Vacancy Rate

Wayne office price per square foot in 2024 was $34.87 on average. This marked a +2.26% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 16.35% 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

2024 Average Office Rent per Square Foot

  • Pennsylvania Class A & A+ Office Space$34.29
  • Pennsylvania Class B Office Space$25.57
  • Pennsylvania Class C Office Space$19.06

Wayne, PA Office Asking Rents by Class

2024 Office Vacancy Rates in Wayne

Submarket Asking Rents Vacancy Rates
Main Line $44.54 9.46%
202 Corridor $30.52 17.30%
King of Prussia $26.61 18.29%
Data provided by Yardi Research
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 Wayne market was 16.35% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Wayne was 9.46% in the Main Line submarket, while the highest office vacancy in the market was 18.29%, recorded in King of Prussia.

Office Spaces for Rent in Pennsylvania

Coworking Spaces in Pennsylvania

2024 Office Construction in Wayne, PA

  • Wayne, PA Total SF completed in 2024 145,000

During 2024, 145,000 square feet of new office space were delivered across the market. At the close of 2024, the Wayne office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 145,000 square feet of office space.

Largest Office Properties Recently Completed in Wayne
Office building Address SF Completed
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
Chesterbrook Corporate Center - 725 & 735 Chesterbrook Blvd 725 Chesterbrook Blvd, 19087 219,734 1987
Chesterbrook Corporate Center - 600, 620, 640 & 690 Lee Road 640 Lee Road, 19087 213,296 1987
Chesterbrook Corporate Center - 955 Chesterbrook Blvd 955 Chesterbrook Blvd, 19087 121,344 1987
Chesterbrook Corporate Center - 965 Chesterbrook Blvd 965 Chesterbrook Blvd, 19087 120,000 1987
Bay Colony Executive Park 565 East Swedesford Road, 19087 247,294 1985
Five Radnor Corporate Center 100 Matsonford Road, 19087 164,505 1985
Radnor Financial Center - 170 North Radnor Chester Road 170 North Radnor Chester Road, 19087 68,143 1983
Chesterbrook Corporate Center - 1300, 1325 & 1400 Morris Drive 1400 Morris Drive, 19087 239,593 1982

Worth noting among recent office completions on the Wayne market is Chesterbrook Corporate Center - 1500-1550 Liberty Ridge Drive, which is currently the largest new office development in the city, at 233,120 square feet.

Data provided by Yardi Research

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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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by Yardi Research Data, 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 Yardi Research Data can guarantee that the information provided is complete.