2024 Office Space Rent & Sales
- $23.46 2024 Avg. Asking Rent
- -4.12% Y-o-Y Avg. Asking Rent Change
- 8.85% 2024 Office Vacancy Rate
Springfield office price per square foot in 2024 was $23.46 on average. This marked a -4.12% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 8.85% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2024 Average Office Rent per Square Foot
- Virginia Class A & A+ Office Space$35.61
- Virginia Class B Office Space$25.93
- Virginia Class C Office Space$20.32
Springfield, VA Office Asking Rents by Class
Office Spaces for Rent in Virginia
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2024 Office Construction in Springfield, VA
| Office building | Address | SF | Completed |
|---|---|---|---|
| Patriot Ridge- Building I | 7770 Backlick Road, 22150 | 240,565 | 2012 |
| Virginia 95 Business Park 7 | 7501 Boston Boulevard, 22153 | 75,756 | 1997 |
| Alban Road Business Center | 7406 Alban Station Court, 22150 | 150,000 | 1989 |
| Versar Center | 6800 Versar Center Drive, 22151 | 230,602 | 1986 |
| Fullerton Square | 7400 Fullerton Road, 22153 | 178,364 | 1986 |
| Forbes Center | 8003 Forbes Place, 22151 | 44,229 | 1986 |
| Offices at Springfield Town Center | 6564 Loisdale Court, 22150 | 160,000 | 1984 |
| 7399 Boston Boulevard | 7399 Boston Boulevard, 22153 | 103,557 | 1982 |
| 6506 Loisdale Road | 6506 Loisdale Road, 22150 | 46,318 | 1982 |
| Virginia 95 Business Park 1 | 7401-7435 Boston Boulevard, 22153 | 103,557 | 1981 |
Worth noting among recent office completions on the Springfield market is Patriot Ridge- Building I, which is currently the largest new office development in the city, at 240,565 square feet.
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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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Springfield 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.