Glen Allen Office Rent Price & Sales Report

Highlights

  • The average rent for office space in Glen Allen is $22.29 per square foot, 2.12% higher compared to the previous year.
  • The market’s vacancy rate stands at 14.50%, lower than the state average of Virginia, which is 16.76%.

2025 Office Space Rent & Sales

  • $22.29 2025 Avg. Asking Rent
  • 2.12% Y-o-Y Avg. Asking Rent Change
  • 14.50% 2025 Office Vacancy Rate
  • $29.1M2025 Total Office Sales
  • $97.73Avg. Sale Price/SF

What is the average asking rent price for office space in Glen Allen?

Average asking rents for office space here stand at $22.29 per square foot. The local office market recorded an average vacancy rate of 14.50% in 2025, unchanged from 14.50% in 2024.

Office transactions in the local market in 2025 totaled a sales volume of $29.1M across 3 sales. These transactions commanded an average sale price per square foot of $97.73.

Glen Allen, VA Office Asking Rents by Class

What is the average office rent per square foot by property class in Glen Allen?

  • Avg. Asking Rent Class A & A+$22.92
  • Avg. Asking Rent Class B$21.74

What is the average office rent per square foot by property class in VA?

  • Avg. Asking Rent Class A & A+$35.10
  • Avg. Asking Rent Class B$27.59
  • Avg. Asking Rent Class C$19.12

For comparison, the average rent for Class A and A+ office space in Virginia was $35.10 per square foot. The state-wide average for Class B space was $27.59 per square foot, and Class C office spaces averaged $19.12 per square foot.

Glen Allen, VA Office Indicators by Submarket

In 2025, the submarket with the lowest office vacancy rate in Glen Allen was Lakeside at 2.93%. Meanwhile, the highest office vacancy rate in the market was 15.13%, recorded in Far West End.
Submarket Asking Rents Vacancy Rates
Far West End $29.12 15.13%
Lakeside $23.00 2.93%
Innsbrook $22.53 14.48%
Data provided by Yardi Research

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2025 Office Sales Volume

  • $97.732025 Avg. Price per SF
  • -1.51%Y-o-Y Avg. PpSF Change
  • $29.1M2025 Office Sales Volume
  • 32025 Number of Transactions

What is the average sale price per square foot for office space in Glen Allen?

Average sale prices for office space in this market recorded a -1.51% change in 2025 compared to the previous year.
Office transactions recorded in the market in 2025 averaged $97.73 per square foot. For comparison, the statewide Virginia average during the same time period stood at $148.92 per square foot, while the national average was $182.48 per square foot.

Glen Allen, VA Sale Price per SF Trend

  • Glen Allen Avg. Sale Price per SF in 2025$97.73
  • Virginia Avg. Sale Price per SF in 2025$148.92

What was the total office sales volume in Glen Allen in 2025?

The local office market recorded 3 deals in 2025, adding up to a yearly sales volume of $29.1M.

  • Glen Allen, VA Total Office Sales Volume in 2025 $29.1M
  • Glen Allen, VA Total Number of Office Sales Closed in 2025 3
Data provided by Yardi Research

What are the largest recent office completions in Glen Allen?

The largest recent office completion here is Liberty Plaza II at 135,375 square feet, completed in 2000. The next largest completions are Innsbrook Corporate Center - North Shore Commons I and Innsbrook Corporate Center - Highwoods Three.

Office building Address SF Completed
Up to ±1,600 SF Office Space Available 5300 Hickory Park Dr, 23059 19,600 2007
5207 Hickory Park Dr 5207 Hickory Park Dr, 23059 4,977 2007
Innsbrook Corporate Center - North Shore Commons II 4991 Lake Brook Drive, 23060 96,069 2006
11225 Nuckols Rd 11225 Nuckols Rd, 23059 5,000 2006
Innsbrook Corporate Center - Highwoods Three 4840 Cox Road, 23060 115,848 2005
Grove Park Square - 11547 Nuckols Road 11547 Nuckols Road, 23059 64,974 2004
2,400 SF Office Space Available 11531 Nuckols Rd, 23059 9,702 2004
Innsbrook Corporate Center - North Shore Commons I 4951 Lake Brook Drive, 23060 116,231 2001
Liberty Plaza II 10800 Nuckols Road, 23060 135,375 2000
East Shore III 140 East Shore Drive, 23059 77,538 2000
Data provided by Yardi Research

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Disclaimer

All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.

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 Yardi Research Data can guarantee that the information provided is complete.