2020 Office Space Rent & Sales
- $14.95 2020 Avg. Asking Rent
- -3.37 % Y-o-Y Avg. Asking Rent Change
- 26.96 % 2020 Office Vacancy Rate
North Richland Hills office price per square foot in 2020 was $14.95 on average. This marked a -3.37 % change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 26.96 % across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- North Richland Hills Class A Office Space$26.50
- North Richland Hills Class B Office Space$17.06
- North Richland Hills Class C Office Space$12.41
- Texas Class A Office Space$35.41
- Texas Class B Office Space$23.36
- Texas Class C Office Space$16.89
North Richland Hills, TX Office Asking Rents by Class
Average office rent in North Richland Hills rested at $14.95 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 North Richland Hills averaged $26.50 per square foot. Across all submarkets, class B office space recorded an average asking rent of $17.06 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $12.41 per square foot, on average. Comparably, statewide Texas average office rents by class in 2020 were: $35.41 per square foot for class A office space; $23.36 per square foot for class B office space; $16.89 per square foot for class C office space.
2020 Office Construction in North Richland Hills, TX
|Calloway Creek Medical Office Building||4300 City Point Drive, 76180||79,172||2007|
|Woodforest Plaza||8408 Davis Blvd, 76182||25,504||2005|
|North Hills Medical Office Building||4375 Booth Calloway Road, 76180||85,740||1999|
|Corporate Center at the Crossing||9151 Boulevard 26, 76180||235,138||1990|
|Richland Commons||8251 Bedford Euless Road, 76180||85,043||1986|
|Frost Bank Building||6851 NE Loop 820, 76180||58,977||1986|
|North Hills Professional Building||4351 Booth Calloway Road, 76180||57,587||1985|
|North Star Plaza II||8713 Airport Fwy, 76180||51,060||1985|
|Richland Corporate Center||9001 Airport Fwy, 76180||142,425||1983|
|5503 Rufe Snow Drive||5555 Rufe Snow Drive, 76180||47,759||1983|
Worth noting among recent office completions on the North Richland Hills market is North Hills Medical Office Building, which is currently the largest new office development in the city, at 85,740 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 North Richland Hills 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.