2022 Office Space Rent & Sales
- $31.12 2022 Avg. Asking Rent
- 16.46% 2022 Office Vacancy Rate
- $117.5M2022 Total Office Sales
- $151.41Avg. Sale Price/SF
Reston office price per square foot in 2022 was $31.12 on average. The local office market recorded an average vacancy rate of 16.46% across all asset classes combined. The 10 transactions that closed here throughout 2022 amounted to a total sale volume of $117.5M. Reston office space commanded an average sale price per square foot of $151.41.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Reston Class A & A+ Office Space$35.67
- Reston Class B Office Space$30.27
- Reston Class C Office Space$17.97
- Virginia Class A & A+ Office Space$38.01
- Virginia Class B Office Space$27.47
- Virginia Class C Office Space$19.02
Reston, VA Office Asking Rents by Class
Average office rent in Reston rested at $31.12 per square foot in 2022. 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 Reston averaged $35.67 per square foot. Across all submarkets, class B office space recorded an average asking rent of $30.27 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $17.97 per square foot, on average. Comparably, statewide Virginia average office rents by class in 2022 were: $38.01 per square foot for class A office space; $27.47 per square foot for class B office space; $19.02 per square foot for class C office space.
Reston Office Sale Price per SF
- $151.412022 Avg. Price per SF
- $117.5M2022 Office Sales Volume
- 102022 Number of Transactions
Reston, VA Sale Price per SF Trend
- Reston Avg. Sale Price per SF in 2022$151.41
- Virginia Avg. Sale Price per SF in 2022$189.12
2022 Office Sales Volume
- Reston, VA Total Office Sales Volume in 2022 $117.5M
- Reston, VA Total Number of Office Sales Closed in 2022 10
Largest Reston Office Sales in 2022
Property name | Address | Date | Price |
---|---|---|---|
Reston Corner II | 12005 Sunrise Valley Drive | 4/14/2022 | $17,325,170 |
Maximus Headquarters | 1891 Metro Center Drive | 8/31/2022 | $17,000,000 |
Reston Corner III | 12007 Sunrise Valley Drive | 4/14/2022 | $15,778,270 |
Reston Corner I | 12001 Sunrise Valley Drive | 4/14/2022 | $15,396,560 |
Parkridge IV | 10700 Parkridge Blvd | 8/11/2022 | $14,850,000 |
Coworking Spaces in Virginia
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2022 Office Construction in Reston, VA
- Reston, VA Total SF completed in 2022 206,423
During 2022, 206,423 square feet of new office space were delivered across the market. At the close of 2022, the Reston office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 206,423 square feet of office space.
Office building | Address | SF | Completed |
---|---|---|---|
Reston Station - 1900 Reston Metro Plaza | 1900 Reston Station Blvd, 20190 | 373,479 | 2017 |
One Dulles Corner | 10740 Parkridge Blvd, 20191 | 215,722 | 2008 |
Reston EastPointe | 11091 Sunset Hills Road, 20190 | 195,384 | 2007 |
Two Reston Crescent | 12018 Sunrise Valley Drive, 20191 | 185,600 | 2007 |
Reston Square | 11790 Sunrise Valley Drive, 20191 | 138,995 | 2007 |
Sunrise Professional Center Condo | 12359 Sunrise Valley Dr. Ste. 130, 20191 | 5,143 | 2003 |
Isaac Newton Square - 1925 & 1943 Isaac Newton Square East | 1943 Isaac Newton Square East, 20190 | 159,336 | 2001 |
1886 Metro Center Drive | 1886 Metro Center Drive, 20190 | 89,223 | 2001 |
Reston Sunrise Two | 12220 Sunrise Valley Drive, 20191 | 83,934 | 2001 |
11111 Sunset Hills Road | 11111 Sunset Hills Road, 20190 | 216,469 | 2000 |
Worth noting among recent office completions on the Reston market is Reston Station - 1900 Reston Metro Plaza, which is currently the largest new office development in the city, at 373,479 square feet.
See reports for other markets
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- Alexandria Office Rent Price
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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 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Reston 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.