2022 Office Space Rent & Sales
- $22.16 2022 Avg. Asking Rent
- 2.21% Y-o-Y Avg. Asking Rent Change
- 18.85% 2022 Office Vacancy Rate
- $160.2M2022 Total Office Sales
- $165.74Avg. Sale Price/SF
Richardson office price per square foot in 2022 was $22.16 on average. This marked a +2.21% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 18.85% across all asset classes combined. The 4 transactions that closed here throughout 2022 amounted to a total sale volume of $160.2M. Richardson office space commanded an average sale price per square foot of $165.74.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Richardson Class A & A+ Office Space$30.43
- Richardson Class B Office Space$21.69
- Richardson Class C Office Space$19.85
- Texas Class A & A+ Office Space$36.30
- Texas Class B Office Space$24.60
- Texas Class C Office Space$20.70
Richardson, TX Office Asking Rents by Class
Average office rent in Richardson rested at $22.16 per square foot in 2022. 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 Richardson averaged $30.43 per square foot. Across all submarkets, class B office space recorded an average asking rent of $21.69 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $19.85 per square foot, on average. Comparably, statewide Texas average office rents by class in 2022 were: $36.30 per square foot for class A office space; $24.60 per square foot for class B office space; $20.70 per square foot for class C office space.
2022 Office Vacancy Rates in Richardson
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| North Dallas | $27.04 | 18.55% |
| Plano | $23.33 | 15.53% |
| Telecom Corridor | $22.09 | 17.88% |
Office Spaces for Rent in Texas
- Houston Office Space
- Austin Office Space
- Dallas Office Space
- San Antonio Office Space
- Fort Worth Office Space
- Plano Office Space
- Irving Office Space
- Richardson Office Space
- El Paso Office Space
- Frisco Office Space
- Arlington Office Space
- Lubbock Office Space
- Sugar Land Office Space
- Amarillo Office Space
- Corpus Christi Office Space
Coworking Spaces in Texas
- Houston Coworking Space
- Dallas Coworking Space
- Austin Coworking Space
- San Antonio Coworking Space
- Plano Coworking Space
- Fort Worth Coworking Space
- Frisco Coworking Space
- Irving Coworking Space
- Sugar Land Coworking Space
- Arlington Coworking Space
- Katy Coworking Space
- McKinney Coworking Space
- Spring Coworking Space
- Lubbock Coworking Space
- Allen Coworking Space
- El Paso Coworking Space
- Addison Coworking Space
- Carrollton Coworking Space
- Richardson Coworking Space
- Southlake Coworking Space
- Amarillo Coworking Space
- Grapevine Coworking Space
- Pearland Coworking Space
- Round Rock Coworking Space
2022 Office Construction in Richardson, TX
| Office building | Address | SF | Completed |
|---|---|---|---|
| Richardson Data Center | 1510 E Lookout Dr, 75082 | 130,039 | 2019 |
| 190 Office Center - 1311 West President George Bush Hwy | 1311 West President George Bush Hwy, 75080 | 153,724 | 2007 |
| The Shops at Eastside | 720 East Campbell Road, 75081 | 62,342 | 2007 |
| The Shire | 3600 Shire Blvd, 75082 | 90,481 | 2005 |
| Galatyn Commons D | 1011 Galatyn Pky, 75082 | 302,100 | 2001 |
| 190 Office Center - 1301 West President George Bush Hwy | 1301 West President George Bush Hwy, 75080 | 153,714 | 2001 |
| Custer Court | 501 West President George Bush Hwy, 75080 | 121,598 | 2001 |
| Galatyn Commons - Building D | 1011 Galatyn Pkwy, 75082 | 302,100 | 2000 |
| Tower 2600 | 2600 N Central Expy, 75080 | 229,307 | 2000 |
| Creekview Corporate Center I | 2301 North Greenville Avenue, 75082 | 100,260 | 2000 |
Worth noting among recent office completions on the Richardson market is Richardson Data Center, which is currently the largest new office development in the city, at 130,039 square feet.
See reports for other markets
- Houston Office Rent Price
- Austin Office Rent Price
- San Antonio Office Rent Price
- Dallas Office Rent Price
- Fort Worth Office Rent Price
- Plano Office Rent Price
- Irving Office Rent Price
- The Woodlands Office Rent Price
- Arlington Office Rent Price
- Washington Office Rent Price
- Seattle Office Rent Price
- San Diego Office Rent Price
- San Francisco Office Rent Price
- Los Angeles Office Rent Price
- Chicago Office Rent Price
- Atlanta Office Rent Price
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 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Richardson 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.