Sterling Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $21.91 2024 Avg. Asking Rent
  • -4.17% Y-o-Y Avg. Asking Rent Change
  • 5.15% 2024 Office Vacancy Rate
  • $222.9M2024 Total Office Sales
  • $212.59Avg. Sale Price/SF

Sterling office price per square foot in 2024 was $21.91 on average. This marked a -4.17% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 5.15% across all asset classes combined. The 6 transactions that closed here throughout 2024 amounted to a total sale volume of $222.9M. Sterling office space commanded an average sale price per square foot of $212.59.

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

Sterling, VA Office Asking Rents by Class

2024 Office Vacancy Rates in Sterling

Submarket Asking Rents Vacancy Rates
Rt 7 Corridor $24.51 8.60%
Rt 28 Corridor North $14.14 3.32%
Data provided by Yardi Research
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Sterling market was 5.15% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Sterling was 3.32% in the Rt 28 Corridor North submarket, while the highest office vacancy in the market was 8.60%, recorded in Rt 7 Corridor.

Office Spaces for Rent in Virginia

Sterling Office Sale Price per SF

  • $212.592024 Avg. Price per SF
  • 24.46%Y-o-Y Avg. PpSF Change
  • $222.9M2024 Office Sales Volume
  • 62024 Number of Transactions

Sterling, VA Sale Price per SF Trend

  • Sterling Avg. Sale Price per SF in 2024$212.59
  • Virginia Avg. Sale Price per SF in 2024$170.19
Sterling office space cost in 2024 marked a +24.46% change compared to the previous year. The sale price for office space in Sterling averaged $212.59 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Virginia average office sale price during the same time period was $170.19 per square foot.

2024 Office Sales Volume

  • Sterling, VA Total Office Sales Volume in 2024 $222.9M
  • Sterling, VA Total Number of Office Sales Closed in 2024 6
A total of 6 deals closed on the Sterling office market in 2024, adding up to a yearly sales volume of $222.9M. Notably, the largest transaction on the market saw TransDulles Center 2 change hands for $135,750,000 on 6/24/2024.
Data provided by Yardi Research

Coworking Spaces in Virginia

Largest Office Properties Recently Completed in Sterling
Office building Address SF Completed
Retail space for lease with 31,000 VPD Visibility 45441 Ruritan Cir, 20164 6,087 2019
23560 Pebble Run Pl 23560 Pebble Run Pl, 20166 16,394 2009
Atlantic Corporate Park 45600 Woodland Road, 20166 219,374 2007
Dulles Trade Center I - 23465 & 23475 Rock Haven Way 23465 Rock Haven Way, 20166 148,308 2007
23475 Rock Haven Way #255 23475 Rock Haven Way #255, 20166 3,284 2007
46179 Westlake Dr #120 46179 Westlake Dr, 20165 6,742 2005
Broad Run Professional Building 22375 Broderick Drive, 20166 65,544 2001
21475 Ridgetop Circle 21475 Ridgetop Circle, 20166 45,678 2001
21165 Whitfield Pl Suite 202 Sterling VA 21165 Whitfield Place, 20165 1,321 2001
Lakeside @ Loudoun Tech Phase I 21351 Ridgetop Circle, 20166 100,000 1999

Worth noting among recent office completions on the Sterling market is Retail space for lease with 31,000 VPD Visibility, which is currently the largest new office development in the city, at 6,087 square feet.

Data provided by Yardi Research

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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 Yardi Research Data, a market intelligence solution which offers comprehensive real market knowledge on all Sterling 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 Yardi Research Data can guarantee that the information provided is complete.