New Orleans, LA Office Overview
The New Orleans Metropolitan Area includes the French Quarter, Lake Terrace & Oaks, and Milan submarkets. With a metropolitan population of nearly 1.3 million people, New Orleans is well known for its French Quarter, Bourbon Street, and world famous Mardis Gras celebration. Located along the Mississippi River, the city is a major shipping and maritime transportation hub.
As of mid-2017, the New Orleans market encompasses nearly 15 million square feet of existing office space in properties larger than 50,000 square feet. The local commercial real estate market is heavily driven by the transportation, energy, aerospace, and tourism industries.
New Orleans, LA Office Inventory Description
A diverse mix of business and industry of all sizes propels the local economy, creating consistent demand for Class A space. With a gross metropolitan product of $74 billion annually, job creation remains strong and unemployment stays low. There are just under 100 office buildings with over 50,000 square feet of space in New Orleans, bringing almost 21 million square feet of inventory to the market.
One of the submarkets in New Orleans that sees consistently strong demand from both tenants and investors alike is West Lake Forest. Located along the I-10 in the northeastern part of the city, the area is home to investment-quality buildings such as the MCENO building on Read Boulevard, 6600 Plaza Drive, and the 5650 Read Blvd Renovation.
New Orleans, LA Commercial Inventory Breakdown
Office Spaces
Total: 14,839,525 SF
By square footage range:
- 50k to 100k SF: 1,329,300 SF / 8.96% of total office
- 100k to 500k SF: 4,883,031 SF / 32.91% of total office
- 500k to 1M SF: 5,889,982 SF / 39.69% of total office
- > 1M SF: 2,737,212 SF / 18.45% of total office
By class:
- Class A: 10,280,414 SF / 69.28% of total office
- Class B: 4,005,920 SF / 26.99% of total office
- Class C: 553,191 SF / 3.73% of total office
Top 10 Largest Office Buildings
in New Orleans
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Hancock Whitney Center | 701 Poydras Street, 70139 | 1,732,728 | 1972 |
| Place St. Charles | 201 St. Charles Avenue, 70170 | 1,004,484 | 1984 |
| Energy Centre | 1100 Poydras Street, 70163 | 757,275 | 1984 |
| Pan American Life Center | 601 Poydras Street, 70130 | 671,883 | 1980 |
| One Canal Place | 365 Canal Street, 70130 | 630,581 | 1979 |
| 400 Poydras Street | 400 Poydras Street, 70130 | 620,000 | 1983 |
| Benson Tower | 1450 Poydras Street, 70112 | 602,678 | 1989 |
| First Bank & Trust Tower | 909 Poydras Street, 70112 | 545,157 | 1987 |
| 1515 Poydras | 1515 Poydras Street, 70112 | 529,474 | 1983 |
| 1010 Common Building | 1010 Common Street, 70112 | 512,593 | 1970 |
Largest Office Properties Recently Completed
in New Orleans
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| 5650 Read Blvd | 5650 Read Blvd, 70127 | 50,000 | 2021 |
| Ochsner Medical Clinic - Lake Terrace | 1532 Robert E. Lee Blvd, 70122 | 58,137 | 2019 |
| CrescentCare Elysian Fields Health Campus | 1631 Elysian Fields Avenue, 70117 | 65,000 | 2018 |
| Offices at Mid-City Market | 4141 Bienville Street, 70119 | 54,000 | 2016 |
| New Orleans BioInnovation Center | 1441 Canal Street, 70112 | 63,989 | 2011 |
| 1000 South Jefferson Davis Pkwy | 1000 South Jefferson Davis Pkwy, 70125 | 45,157 | 2011 |
| 4480 General DeGaulle Drive | 4480 General DeGaulle Drive, 70131 | 25,920 | 2010 |
| The University of New Orleans Research and Technology Park - Center for Energy Resource Management | 2045 Lakeshore Drive, 70122 | 104,506 | 2002 |
| The University of New Orleans Research and Technology Park - Information Technology Center 1 | 2219 Lakeshore Drive, 70122 | 89,286 | 2002 |
| The University of New Orleans Research and Technology Park - Advanced Technology Center | 2021 Lakeshore Drive, 70148 | 78,500 | 2001 |
New Orleans, LA Green Office Space
Energy efficiency and eco-friendliness play an increasingly large part in how tenants pick a property to rent. The 2017 National Green Building Adoption Index surveyed the top 30 markets in the U.S. and discovered that the percentage of large office buildings - those with over 50,000 square feet of space - that are green, EPA Energy Star-rated, or LEED-certified has increased by about 33% over the last 12 years.
A prime example of a LEED certified building in the metro is One Shell Square. This property was built in 1972, is located in the city’s business district, and contains over 1.7 million square feet of Class A office space. The building was awarded a LEED Silver certification. In New Orleans, about 8% of the total larger office buildings are green, adding over 2.8 million square feet to the market.
New Orleans, LA's Top Office-Using Sectors
The New Orleans commercial real estate market is heavily influenced by the energy and refining industries. These, along with financial services, aerospace & defense, and head corporate offices drive demand in the metro.
- Energy – Exxon, Chevron, BP, Shell, Calumet, Conoco, Koch, and Kinder Morgan are just a few companies in this sector that generate demand.
- Financial Services – Capital One, Whitney National Bank, and GE Capital are just three of the many financial companies operating in the metro.
- Aerospace & Defense – NASA, the U.S. Navy Space and Naval Warfare Systems Command, and Lockheed Martin are all located in New Orleans.
- Corporate Office – IBM, Imperial Trading, Al Copeland Investments, Vinson Guard Services, and United States Services Group have corporate headquarters in the city.
Frequently Asked Questions
How much does office space cost in New Orleans, LA?
The average office rental rate in New Orleans, LA is $21.66 per square foot. Asking prices vary based on the property’s location, overall rating, amenities, proximity to restaurants, cafes and entertainment venues, as well as public transport, airports and highways.
What is the size of available office spaces in New Orleans, LA?
The New Orleans, LA office market can accommodate various businesses, sporting a range of office space availabilities. The average size of office space availabilities is 25,100 square feet. If you’re just starting out as a company or as an entrepreneur, the smallest available office space in New Orleans, LA is 200 square feet, while the maximum rentable space on the market now is 50,000 square feet.
How do I get office space in New Orleans, LA?
Start your search for office space in New Orleans, LA by using our filters that allow you to find the best space for your business needs. Filter listings by location, property size, available space or lease rate. Property pages will offer details about an office building’s rating, year built, availabilities, price per square foot and more. After drawing up a shortlist, make sure you contact the listed broker(s) to schedule a viewing and begin the negotiation process for your lease contract.
How many office listings are available in New Orleans, LA?
There are 86 office listings on the New Orleans, LA market. See all available office spaces for rent.
Where to rent an office space in New Orleans, LA?
Popular New Orleans neighbourhoods with available office spaces include New Orleans East Bank, New Orleans Central Business District and New Orleans East.
What other property types are available for lease in New Orleans, LA?
In addition to traditional office spaces, commercial real estate listings on our platform also include coworking & shared office space options, retail spaces, industrial buildings, warehouses, distribution facilities, and more.
New Orleans Demographics
Population
- Total Population390,845
- Male Population(47.5 %) 185,513
- Female Population(52.5 %) 205,332
- Median Age36.80
Income/Financial
- Average Household Income$71,940
- Median Household Income$41,604
- Median Income Under 25$16,939
- Median Income 25-44$45,377
- Median Income 45-64$45,232
- Median Income Over 65$33,247
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