2024 Office Space Rent & Sales
- $22.30 2024 Avg. Asking Rent
- 11.26% 2024 Office Vacancy Rate
Virginia Beach office price per square foot in 2024 was $22.30 on average. The local office market recorded an average vacancy rate of 11.26% 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 Beach Class A & A+ Office Space$25.86
- Virginia Beach Class B Office Space$21.57
- Virginia Beach Class C Office Space$15.17
- Virginia Class A & A+ Office Space$35.61
- Virginia Class B Office Space$25.93
- Virginia Class C Office Space$20.32
Virginia Beach, VA Office Asking Rents by Class
Average office rent in Virginia Beach rested at $22.30 per square foot in 2024. 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 Virginia Beach averaged $25.86 per square foot. Across all submarkets, class B office space recorded an average asking rent of $21.57 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $15.17 per square foot, on average. Comparably, statewide Virginia average office rents by class in 2024 were: $35.61 per square foot for class A office space; $25.93 per square foot for class B office space; $20.32 per square foot for class C office space.
Office Spaces for Rent in Virginia
Coworking Spaces in Virginia
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2024 Office Construction in Virginia Beach, VA
| Office building | Address | SF | Completed |
|---|---|---|---|
| Convergence Center V | 200 Bendix Road, 23452 | 50,000 | 2015 |
| 329 Edwin Drive | 329 Edwin Drive, 23452 | 11,321 | 2014 |
| 555 South Independence Blvd | 555 South Independence Blvd, 23462 | 62,000 | 2013 |
| Town Center of Virginia Beach- Two Columbus Center | 4500 Main Street, 23462 | 108,000 | 2010 |
| Convergence Center IV | 301 Bendix Road, 23452 | 89,000 | 2009 |
| Convergence Center III | 272 Bendix Road, 23452 | 99,000 | 2008 |
| Towne Pavilion Center II | 600 22nd Street, 23451 | 77,386 | 2008 |
| 6229 Indian River Rd | 6229 Indian River Rd, 23464 | 2,500 | 2008 |
| Courthouse Marketplace | 2476 Nimmo Pkwy, 23456 | 106,863 | 2005 |
| Fulton Bank Plaza | 4429 Bonney Road, 23462 | 89,950 | 2005 |
Worth noting among recent office completions on the Virginia Beach market is Convergence Center V, which is currently the largest new office development in the city, at 50,000 square feet.
See reports for other markets
- Richmond Office Rent Price
- Arlington Office Rent Price
- Henrico Office Rent Price
- Alexandria Office Rent Price
- Fredericksburg Office Rent Price
- Fairfax Office Rent Price
- Glen Allen Office Rent Price
- Norfolk 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 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 Virginia Beach 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.