Arlington Office Rent Price & Sales Report

2021 Office Space Rent & Sales

  • $44.16 2021 Avg. Asking Rent
  • 4.51% Y-o-Y Avg. Asking Rent Change
  • 21.17% 2021 Office Vacancy Rate
  • $886.7M2021 Total Office Sales
  • $437.11Avg. Sale Price/SF

Arlington office price per square foot in 2021 was $44.16 on average. This marked a +4.51% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 21.17% across all asset classes combined. The 9 transactions that closed here throughout 2021 amounted to a total sale volume of $886.7M. Arlington office space commanded an average sale price per square foot of $437.11.

Average Rent by Office Class

2021 Average Office Rent per Square Foot

  • Arlington Class A & A+ Office Space$46.43
  • Arlington Class B Office Space$36.87
  • Virginia Class A & A+ Office Space$38.50
  • Virginia Class B Office Space$28.05
  • Virginia Class C Office Space$21.39

Arlington, VA Office Asking Rents by Class

2021 Office Vacancy Rates in Arlington

Submarket Asking Rents Vacancy Rates
Rosslyn $47.08 19.55%
Clarendon $43.79 20.22%
Virginia Square $43.33 24.76%
Crystal City $37.17 23.17%
Data provided by Commercial Edge
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 Arlington market was 21.17% in 2021. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Arlington was 19.55% in the Rosslyn submarket, while the highest office vacancy in the market was 24.76%, recorded in Virginia Square.

Office Spaces for Rent in Virginia

Arlington Office Sale Price per SF

  • $437.112021 Avg. Price per SF
  • 5.13%Y-o-Y Avg. PpSF Change
  • $886.7M2021 Office Sales Volume
  • 92021 Number of Transactions

Arlington, VA Sale Price per SF Trend

  • Arlington Avg. Sale Price per SF in 2021$437.11
  • Virginia Avg. Sale Price per SF in 2021$243.94
Arlington office space cost in 2021 marked a +5.13% change compared to the previous year. The sale price for office space in Arlington averaged $437.11 per square foot in 2021, across all market subdivisions and asset classes. Conversely, the statewide Virginia average office sale price during the same time period was $243.94 per square foot.

2021 Office Sales Volume

  • Arlington, VA Total Office Sales Volume in 2021 $886.7M
  • Arlington, VA Total Number of Office Sales Closed in 2021 9
A total of 9 deals closed on the Arlington office market in 2021, adding up to a yearly sales volume of $886.7M. Notably, the largest transaction on the market saw Arlington Tower change hands for $208,550,000 on 7/26/2021.

Largest Arlington Office Sales in 2021

Property name Address Date Price
Arlington Tower 1300 17th Street North 7/26/2021 $208,550,000
Liberty Center - 675 North Randolph Street 675 North Randolph Street 9/17/2021 $196,534,900
Three Ballston Plaza 1100 North Glebe Road 11/18/2021 $118,000,000
Sequoia Plaza I & III 2100 Washington Blvd 8/19/2021 $115,283,500
Sequoia Plaza II 2110 Washington Blvd 8/19/2021 $89,127,940
Data provided by Commercial Edge

Coworking Spaces in Virginia

2021 Office Construction in Arlington, VA

Largest Office Properties Recently Completed in Arlington
Office building Address SF Completed
4040 Wilson 4040 Wilson Boulevard, 22203 224,545 2020
2311 Wilson Blvd 2311 Wilson Blvd, 22201 179,205 2018
1812 North Moore 1812 North Moore Street, 22209 537,000 2013
1400 Crystal 1400 Crystal Drive, 22202 308,898 2013
1776 Wilson Boulevard 1776 Wilson Boulevard, 22209 138,000 2012
Clarendon Center - South Block 3030 Clarendon Blvd, 22201 343,901 2011
Clarendon Center - North Block 3000 Wilson Blvd, 22201 108,376 2011
National Gateway 3550 S Clark St, 22202 221,686 2010
Clarendon Center - North Block 3000 Wilson Blvd., 22201 112,175 2010
Clarendon Center - South Block 3030 Clarendon Boulevard, 22201 105,000 2010

Worth noting among recent office completions on the Arlington market is 4040 Wilson, which is currently the largest new office development in the city, at 224,545 square feet.

Data provided by Commercial Edge

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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 2021 through December 31st 2021. Construction pipeline data represented herein is valid as of April 2022. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Arlington 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.