Addison Office Market Trends

Office Rental Market

  • $28.04 2019 Avg. Asking Rent
  • 15.01 % 2019 Avg. Vacancy Rate
  • 0 2019 Office Completions (Sqft)
  • 0 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Addison was $28.04 per square foot, and the office vacancy rate across the market averaged 15.01 %. During 2019, developers added 0 square feet of new office space to the Addison market inventory. Office developments estimated for delivery during 2020 total 0 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Addison Class A Office Buildings$31.28
  • Addison Class B Office Buildings$20.93
  • TX Class A Office Buildings$34.48
  • TX Class B Office Buildings$23.32
  • TX Class C Office Buildings$16.03

Addison, TX Office Asking Rents by Class

OFFICE CONSTRUCTION IN Addison, TX

  • Addison, TX Total Sqft completed in 2019 0
  • Addison, TX Total Sqft under construction in 2020 0
10 Largest Office Buildings in Addison
Building name Address Total Sqft Year built
Spectrum Center 5080 Spectrum Drive, 75001 613,858 1982
The Mary Kay Building 16251 Dallas Pkwy, 75001 599,000 1986
Colonnade III 15305 N Dallas Pky, 75001 407,577 1998
Colonnade III 15305 Dallas Pkwy, 75001 377,639 1997
Millennium Tower 15455 Dallas Pkwy, 75001 357,102 1999
Colonnade I 15301 Dallas Pkwy, 75001 334,490 1982
Colonnade II 15303 Dallas Pkwy, 75001 314,125 1984
Addison Circle One 15601 Dallas Pkwy, 75001 293,787 1998
Addison Circle One 15601 Dallas Pky, 75001 293,787 1999
The Madison 15851 Dallas Pkwy, 75001 288,920 1983
Largest Office Properties Recently Completed in Addison
Office building Address Sqft Completed
15207 Addison Road 15207 Addison Road, 75001 25,000 2019
15125 Quorum Drive 15125 Quorum Drive, 75001 33,131 2015
Two Addison Circle 15725 Dallas Pkwy, 75001 198,484 2008
4301 Wiley Post Road 4301 Wiley Post Road, 75001 79,944 2008
3885 Arapaho Road 3885 Arapaho Road, 75001 60,000 2002
16650 Westgrove Drive 16650 Westgrove Drive, 75001 96,463 2000
Millennium Tower 15455 Dallas Pkwy, 75001 357,102 1999
Sojourn Office Center 4450 Sojourn Drive, 75001 92,346 1999
5040 Addison Circle 5040 Addison Circle, 75001 51,663 1999
Addison Circle One 15601 Dallas Pkwy, 75001 293,787 1998
Data provided by Commercial Edge

Office Spaces for Rent in Texas

ADDISON OFFICE SALES TRENDS

  • $187.162019 Avg. Price per Sqft
  • 3.07 %Y-o-Y Avg. PpSF Change
  • $87.8M2019 Office Sales Volume
  • 42019 Number of Transactions

In 2019, office sales in Addison averaged $187.16 per square foot. This marked a 3.07 % increase in office price per square foot, compared to the previous year. A total of 4 office sales closed on the Addison office market in 2019, amounting to a total sales volume of $87.8M.

Average Office Sale Price per Sqft

Addison, TX Sales Trends

  • Addison Price per Sqft$187.16
  • Texas Price per Sqft$253.24

Office Sales - Trend and Volume

  • Addison, TX Total Office Sales Volume in 2019 $87.8M
  • Addison, TX Total Number of Office Sales Closed in 2019 4

Largest Addison Office Sales in 2019

Property name Address Date Price
Fourteen555 - Building 1 14555 North Dallas Pkwy 9/9/2019 $54,571,000
4301 Wiley Post Road 4301 Wiley Post Road 9/11/2019 $18,300,000
Sojourn Office Center 4450 Sojourn Drive 2/8/2019 $9,871,000
15000 Surveyor Blvd 15000 Surveyor Blvd 1/25/2019 $5,051,000
Data provided by Commercial Edge

See trends for nearby markets

The Addison office market contains an inventory of 8,770,644 square feet of office space, in 73 buildings that are equal to or larger than 25,000 square feet.

This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive knowledge on all Addison 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.