Hampton Office Rent Price & Sales Report

2021 Office Space Rent & Sales

  • $16.57 2021 Avg. Asking Rent
  • -1.36% Y-o-Y Avg. Asking Rent Change
  • 20.73% 2021 Office Vacancy Rate
  • $25.4M2021 Total Office Sales
  • $116.26Avg. Sale Price/SF

Hampton office price per square foot in 2021 was $16.57 on average. This marked a -1.36% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 20.73% across all asset classes combined. The 3 transactions that closed here throughout 2021 amounted to a total sale volume of $25.4M. Hampton office space commanded an average sale price per square foot of $116.26.

Average Rent by Office Class

2021 Average Office Rent per Square Foot

  • Hampton Class A & A+ Office Space$16.67
  • Hampton Class B Office Space$16.52
  • Virginia Class A & A+ Office Space$38.50
  • Virginia Class B Office Space$28.05
  • Virginia Class C Office Space$21.39

Hampton, VA Office Asking Rents by Class

Office Spaces for Rent in Virginia

Hampton Office Sale Price per SF

  • $116.262021 Avg. Price per SF
  • $25.4M2021 Office Sales Volume
  • 32021 Number of Transactions

Hampton, VA Sale Price per SF Trend

  • Hampton Avg. Sale Price per SF in 2021$116.26
  • Virginia Avg. Sale Price per SF in 2021$243.94
The sale price for office space in Hampton averaged $116.26 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

  • Hampton, VA Total Office Sales Volume in 2021 $25.4M
  • Hampton, VA Total Number of Office Sales Closed in 2021 3
A total of 3 deals closed on the Hampton office market in 2021, adding up to a yearly sales volume of $25.4M. Notably, the largest transaction on the market saw Hampton Roads Research Quad III change hands for $16,987,000 on 2/9/2021.

Largest Hampton Office Sales in 2021

Property name Address Date Price
Hampton Roads Research Quad III 300 Exploration Way 2/9/2021 $16,987,000
Hampton Roads Research Quad I 100 Exploration Way 2/9/2021 $5,823,000
Hampton Tech Center - Hampton Technology Center I 903 Enterprise Pkwy 4/21/2021 $2,600,000
Data provided by Commercial Edge

Coworking Spaces in Virginia

Largest Office Properties Recently Completed in Hampton
Office building Address SF Completed
Peninsula Town Center - Claiborne Building 4410 East Claiborne Square, 23666 207,170 2009
Sentara CarePlex West 4001 Coliseum Drive, 23666 70,774 2007
Lakefront Plaza 21 Enterprise Parkway, 23666 75,915 1999
Central Park Six 6 Manhattan Square, 23666 32,266 1988
Harbour Centre 2 Eaton Street, 23669 175,365 1987
Oxford Plaza 1 Enterprise Pky, 23666 63,029 1987
Mallory Commons 608 East Mercury Blvd, 23663 63,983 1974
Fort Monroe Building 135 61 Patch Road, 23651 17,010 1908

Worth noting among recent office completions on the Hampton market is Peninsula Town Center - Claiborne Building, which is currently the largest new office development in the city, at 207,170 square feet.

Data provided by Commercial Edge

See reports for other 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 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 Hampton 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.