2020 Office Space Rent & Sales
- $23.04 2020 Avg. Asking Rent
- -2.25% Y-o-Y Avg. Asking Rent Change
- 18.93% 2020 Office Vacancy Rate
Richardson office price per square foot in 2020 was $23.04 on average. This marked a -2.25% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 18.93% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Richardson Class A Office Space$27.59
- Richardson Class B Office Space$20.76
- Richardson Class C Office Space$16.39
- Texas Class A Office Space$35.41
- Texas Class B Office Space$23.36
- Texas Class C Office Space$16.89
Richardson, TX Office Asking Rents by Class
Average office rent in Richardson rested at $23.04 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 Richardson averaged $27.59 per square foot. Across all submarkets, class B office space recorded an average asking rent of $20.76 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $16.39 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 Vacancy Rates in Richardson
|Submarket||Asking Rents||Vacancy Rates|
2020 Office Construction in Richardson, TX
- Richardson, TX Total SF completed in 2020
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Richardson office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.
|Campbell Office Park||1050 West Campbell Road, 75080||28,665||2015|
|Collins Center||1225 Alma Road, 75081||152,529||2014|
|Blue Cross and Blue Shield of Texas Headquarters||1001 East Lookout Drive, 75082||1,050,550||2008|
|Methodist Richardson Cancer Center||2805 East President George Bush Hwy, 75082||45,554||2008|
|Renner Medical Plaza||3005 East Renner Road, 75082||38,521||2008|
|190 Office Center - 1311 West President George Bush Hwy||1311 West President George Bush Hwy, 75080||153,724||2007|
|Custer Commons Office Park||465 West President George Bush Hwy, 75080||40,134||2007|
|Renner Professional Plaza||3200 Talon Drive, 75082||65,257||2005|
|Breckenridge Medical Plaza||3201 East President George Bush Hwy, 75082||28,107||2004|
|2821 East President George Bush Hwy||2821 East President George Bush Hwy, 75082||97,125||2003|
Worth noting among recent office completions on the Richardson market is Campbell Office Park, which is currently the largest new office development in the city, at 28,665 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 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.