Newport News Office Rent Price & Sales Report

Highlights

  • The average rent for office space in Newport News is $17.67 per square foot, 1.80% higher compared to the previous year.
  • The market’s vacancy rate stands at 6.78%, lower than the state average of Virginia, which is 16.76%.

2025 Office Space Rent & Sales

  • $17.67 2025 Avg. Asking Rent
  • 1.80% Y-o-Y Avg. Asking Rent Change
  • 6.78% 2025 Office Vacancy Rate
  • $16.8M2025 Total Office Sales
  • $78.94Avg. Sale Price/SF

What is the average asking rent price for office space in Newport News?

Average asking rents for office space here stand at $17.67 per square foot. The local office market recorded an average vacancy rate of 6.78% in 2025, unchanged from 6.78% in 2024.

Office transactions in the local market in 2025 totaled a sales volume of $16.8M across 4 sales. These transactions commanded an average sale price per square foot of $78.94.

Newport News, VA Office Asking Rents by Class

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.

Explore Top Office Markets in Virginia

2025 Office Sales Volume

  • $78.942025 Avg. Price per SF
  • -41.65%Y-o-Y Avg. PpSF Change
  • $16.8M2025 Office Sales Volume
  • 42025 Number of Transactions

What is the average sale price per square foot for office space in Newport News?

Average sale prices for office space in this market recorded a -41.65% change in 2025 compared to the previous year.
Office transactions recorded in the market in 2025 averaged $78.94 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.

Newport News, VA Sale Price per SF Trend

  • Newport News Avg. Sale Price per SF in 2025$78.94
  • Virginia Avg. Sale Price per SF in 2025$148.92

What was the total office sales volume in Newport News in 2025?

The local office market recorded 4 deals in 2025, adding up to a yearly sales volume of $16.8M.

  • Newport News, VA Total Office Sales Volume in 2025 $16.8M
  • Newport News, VA Total Number of Office Sales Closed in 2025 4
Data provided by Yardi Research

Office Construction in Newport News, VA

What are the largest recent office completions in Newport News?

The largest recent office completion here is Thimble Shoals Business Center at 77,337 square feet, completed in 1991. The next largest completions are Beacon One and 11864 Canon Blvd.

Office building Address SF Completed
Beacon One 2 BayPort Way, 23606 56,400 2018
12610 Patrick Henry Dr #C 12610 Patrick Henry Dr, 23602 1,433 2008
Turner Building 200 Nat Turner Blvd, 23606 3,889 2007
702 City Center Blvd 702 City Center Blvd, 23606 10,000 2005
Rock Landing Professional Park 11848 Rock Landing Drive, 23606 32,000 2003
Tower Park 735 Thimble Shoals Blvd, 23606 33,000 1999
704 City Center Blvd 704 City Center Blvd, 23606 10,000 1998
Thimble Shoals Business Center 720 Thimble Shoals Blvd, 23606 77,337 1991
11864 Canon Blvd 11864 Canon Blvd, 23606 38,000 1991
Oyster Point Business Park - Rock Landing IV & V 11844 Rock Landing Drive, 23606 36,250 1990
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.