Rockville, MD Office Overview
The Rockville market includes the Rockville City and North Bethesda submarkets. While its population is about 63,000, it’s part of the Baltimore - Washington metropolitan region, which is home to over 5.4 million. The economy is driven by a variety of business sectors, including government, defense, and high-tech.
As of mid-2017, the market encompasses over 23 million square feet of existing office space in properties larger than 50,000 square feet. It’s also the largest city in Montgomery County and serves as a research center and major retail hub for the region.
Rockville, MD Office Inventory Description
Rockville is one of three cities at the heart of the I-270 Technology Corridor that’s home to numerous software, biotech, high tech, and Government facilities. It also does its part in contributing to the metro area's $449 billion annual gross metropolitan product. Over 41% of the office space is Class A, with another 58% of space being Class B.
The market sees some of the strongest demand for office space in the region. Located just north of Washington, D.C., the city is home to prestigious properties such as Shady Grove Plaza, 5600 Fishers Lane, and Two Irvington Centre.
Rockville, MD Commercial Inventory Breakdown
Office Spaces
Total: 25,621,185 SF
By square footage range:
- 50k to 100k SF: 4,213,047 SF / 16.44% of total office
- 100k to 500k SF: 18,851,707 SF / 73.58% of total office
- 500k to 1M SF: 1,223,949 SF / 4.78% of total office
- > 1M SF: 1,332,482 SF / 5.2% of total office
By class:
- Class A: 11,157,984 SF / 43.55% of total office
- Class B: 12,458,867 SF / 48.63% of total office
- Class C: 54,000 SF / 0.21% of total office
Top 10 Largest Office Buildings
in Rockville
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| 5600 Fishers Lane | 5600 Fishers Lane, 20852 | 1,332,482 | 1970 |
| 14200 Shady Grove Road | 14200 Shady Grove Road, 20850 | 635,058 | 2003 |
| National Cancer Institute | 9609 Medical Center Drive, 20850 | 588,891 | 2012 |
| 5601 Fishers Lane | 5601 Fishers Lane, 20852 | 490,998 | 2014 |
| Three White Flint North | 11601 Landsdown Street, 20852 | 358,000 | 2012 |
| Two White Flint North | 11545 Rockville Pike, 20852 | 347,922 | 1993 |
| 9911 Belward Campus Drive | 9911 Belward Campus Drive, 20850 | 289,912 | 2005 |
| 9800 Medical Center Drive | 9800 Medical Center Drive, 20850 | 281,379 | 1998 |
| One Central Plaza | 11300 Rockville Pike, 20852 | 267,000 | 1973 |
| 9509 Key West Avenue | 9509 Key West Avenue, 20850 | 251,995 | 2000 |
Most Recently-Built Office Buildings
in Rockville
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| 5 Research Court | 5 Research Court, 20850 | 49,160 | 2019 |
| Greencourt Innovation Center | 12358 Parklawn Drive, 20852 | 103,482 | 2016 |
| Pike & Rose | 11810 Grand Park Avenue, 20852 | 80,000 | 2015 |
| 5601 Fishers Lane | 5601 Fishers Lane, 20852 | 490,998 | 2014 |
| Fallsgrove Plaza | 14995 Shady Grove Road, 20850 | 110,000 | 2014 |
| Shady Grove Adventist Aquilino Cancer Center | 9905 Medical Center Drive, 20850 | 51,000 | 2014 |
| Rockville Metro Plaza II | 1 Choice Hotels Circle, 20850 | 197,866 | 2013 |
| National Cancer Institute | 9609 Medical Center Drive, 20850 | 588,891 | 2012 |
| Three White Flint North | 11601 Landsdown Street, 20852 | 358,000 | 2012 |
| Redland Corporate Center III | 530 Gaither Road, 20850 | 208,344 | 2009 |
Rockville, MD Green Office Space
The 2017 National Green Building Adoption Index surveyed the top 30 major office markets in the U.S. and discovered that, with office buildings larger than 50,000 square feet, the percentage of energy-efficient office property has increased from less than 5% in 2005 all the way up to 38% by mid-year 2017.
While Rockville itself doesn't rank in the top 30 major markets, neighboring Washington, D.C., does, with about 41% of the large office buildings in that city being LEED-Certified.
Rockville does its share adding to the region's green office space. One example is 2000 Tower Oaks Boulevard. Built in 2008, it has more than 200,000 square feet property and is LEED-Certified Platinum.
Rockville, MD's Top Office-Using Sectors
Some of the top business sectors in the city include high tech, biotechnology, healthcare, government, and corporate offices.
- High-Tech & Biotechnology –Lockheed Martin Information Systems, Booz Allen Hamilton, and Quest Software.
- Healthcare – Adventist HealthCare and the American Kidney Fund.
- Government – The U.S. Government, Montgomery County, and the City of Rockville.
- Corporate Office – Choice Hotels, Emergent BioSolutions, Human Genome Sciences, Westat, United States Pharmacopeia, and Bethesda Softworks.
FREQUENTLY ASKED QUESTIONS
How much does office space cost in Rockville, MD?
The average office rental rate in Rockville, MD is $26.95 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 Rockville, MD?
The Rockville, MD office market can accommodate various businesses, sporting a range of office space availabilities. The average size of office space availabilities is 26,188 square feet. If you’re just starting out as a company or as an entrepreneur, the smallest available office space in Rockville, MD is 82 square feet, while the maximum rentable space on the market now is 52,293 square feet.
How do I get office space in Rockville, MD?
Start your search for office space in Rockville, MD 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 Rockville, MD?
There are 212 office listings on the Rockville, MD market.
Rockville Demographics
Population
- Total Population67,062
- Male Population(47.0 %) 31,551
- Female Population(53.0 %) 35,511
- Median Age38.30
Income/Financial
- Average Household Income$132,670
- Median Household Income$105,376
- Median Income Under 25$43,869
- Median Income 25-44$105,396
- Median Income 45-64$128,842
- Median Income Over 65$80,296
News
Rockville, Md.-based Emmes Corp. announced that it is expanding its operations and opening a second office location in Greater Washington D.C. The biotechnology company is celebrating its 40th anniversary in stride—ranked as one of the best workplaces in Maryland for the second year in a row by ...
HFF announced it has brokered the sale of Meritage Properties’ Shady Grove Plaza, located in Rockville, Md., a highly desirable Washington DC suburban office market. The four-story, 184,290-square-foot office building at 15245 Shady Grove Road is located in the Interstate 270 corridor of Montgom...
Executive Summary 2017 records highest Q1 sales volume in the past 4 years average price per square foot drops 8.8% year-over-year to $300 largest office sales of Q1 closed by Asian investors three office developments on track for Q2 delivery Despite the tumultuous political environment of the p...