2023 Office Space Rent & Sales
- $34.38 2023 Avg. Asking Rent
- 10.54% 2023 Office Vacancy Rate
- $18.4M2023 Total Office Sales
- $267.92Avg. Sale Price/SF
Delray Beach office price per square foot in 2023 was $34.38 on average. The local office market recorded an average vacancy rate of 10.54% across all asset classes combined. The 4 transactions that closed here throughout 2023 amounted to a total sale volume of $18.4M. Delray Beach office space commanded an average sale price per square foot of $267.92.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Delray Beach Class A & A+ Office Space$56.04
- Delray Beach Class B Office Space$31.52
- Delray Beach Class C Office Space$24.14
- Florida Class A & A+ Office Space$36.87
- Florida Class B Office Space$27.52
- Florida Class C Office Space$32.32
Delray Beach, FL Office Asking Rents by Class
Average office rent in Delray Beach rested at $34.38 per square foot in 2023. 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 Delray Beach averaged $56.04 per square foot. Across all submarkets, class B office space recorded an average asking rent of $31.52 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $24.14 per square foot, on average. Comparably, statewide Florida average office rents by class in 2023 were: $36.87 per square foot for class A office space; $27.52 per square foot for class B office space; $32.32 per square foot for class C office space.
2023 Office Vacancy Rates in Delray Beach
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Delray Beach | $34.38 | 10.54% |
Boynton Beach | $32.50 | 4.99% |
Delray Beach Office Sale Price per SF
- $267.922023 Avg. Price per SF
- -40.71%Y-o-Y Avg. PpSF Change
- $18.4M2023 Office Sales Volume
- 42023 Number of Transactions
Delray Beach, FL Sale Price per SF Trend
- Delray Beach Avg. Sale Price per SF in 2023$267.92
- Florida Avg. Sale Price per SF in 2023$213.92
2023 Office Sales Volume
- Delray Beach, FL Total Office Sales Volume in 2023 $18.4M
- Delray Beach, FL Total Number of Office Sales Closed in 2023 4
Coworking Spaces in Florida
- Houston Coworking Space
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- Jacksonville Coworking Space
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- Miami Beach Coworking Space
2023 Office Construction in Delray Beach, FL
- Delray Beach, FL Total SF under construction in 2024 180,000
Office building | Address | SF | Completed |
---|---|---|---|
Atlantic Crossing - Building I | 609 East Atlantic Avenue, 33483 | 90,000 | 2022 |
4600 Linton Blvd | 4600 West Linton Blvd, 33445 | 33,411 | 2010 |
Delray Commercial Center | 200 Lindell Boulevard, 33483 | 9,116 | 2000 |
ONE 10 Plaza | 110 E Atlantic Avenue, 33444 | 47,000 | 1997 |
Delray Professional Center | 1300 NW 17th Avenue, 33445 | 41,643 | 1989 |
DELRAY OFFICE PARK | 3333 S Congress Ave, 33445 | 42,156 | 1987 |
Well maintained building with permitted uses including office, medical, and dental. | 14565 Sims Rd, 33484 | 21,882 | 1987 |
16244 South Military Trail | 16244 South Military Trail, 33484 | 60,702 | 1986 |
Palm Court Plaza & Professional Center | 5150 Linton Boulevard, 33484 | 137,760 | 1985 |
223 NE 5th Ave | 223 NE 5th Ave, 33483 | 4,050 | 1984 |
Worth noting among recent office completions on the Delray Beach market is Atlantic Crossing - Building I, which is currently the largest new office development in the city, at 90,000 square feet.
See reports for other markets
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- Miami 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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Delray 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.