2023 Office Space Rent & Sales
- $18.80 2023 Avg. Asking Rent
- -3.69% Y-o-Y Avg. Asking Rent Change
- 13.84% 2023 Office Vacancy Rate
- $24.1M2023 Total Office Sales
- $61.38Avg. Sale Price/SF
Norcross office price per square foot in 2023 was $18.80 on average. This marked a -3.69% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 13.84% across all asset classes combined. The 4 transactions that closed here throughout 2023 amounted to a total sale volume of $24.1M. Norcross office space commanded an average sale price per square foot of $61.38.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Norcross Class B Office Space$18.80
- Georgia Class A & A+ Office Space$34.44
- Georgia Class B Office Space$22.70
- Georgia Class C Office Space$31.34
Norcross, GA Office Asking Rents by Class
2023 Office Vacancy Rates in Norcross
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
I-95 Corridor Duluth | $21.50 | 10.67% |
Peachtree Corners - Duluth | $19.92 | 11.90% |
Norcross Office Sale Price per SF
- $61.382023 Avg. Price per SF
- $24.1M2023 Office Sales Volume
- 42023 Number of Transactions
Norcross, GA Sale Price per SF Trend
- Norcross Avg. Sale Price per SF in 2023$61.38
- Georgia Avg. Sale Price per SF in 2023$150.71
2023 Office Sales Volume
- Norcross, GA Total Office Sales Volume in 2023 $24.1M
- Norcross, GA Total Number of Office Sales Closed in 2023 4
Coworking Spaces in Georgia
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2023 Office Construction in Norcross, GA
Office building | Address | SF | Completed |
---|---|---|---|
The Offices @ Gwinnett Commons - 4155 Shackleford Road | 4155 Shackleford Road, 30093 | 144,521 | 2000 |
Cubework Norcross | 1600 Indian Brook Way, 30093 | 81,440 | 1997 |
3120 Medlock Bridge Road - Building F | 3120 Medlock Bridge Road - Building F, 30071 | 28,004 | 1989 |
2755 Northwoods Pkwy | 2755 Northwoods Pkwy, 30071 | 48,270 | 1986 |
2975 & 2995 Courtyards Drive | 2995 Courtyards Drive, 30071 | 43,342 | 1986 |
Governors Lakes 200 | 6801 Governors Lake Pkwy, 30071 | 102,364 | 1985 |
704 Holcomb Bridge Road Bldg 1 | 704 Holcomb Bridge Road, 30071 | 1,092 | 1985 |
The Station | 3081 Holcomb Bridge Road, 30091 | 110,655 | 1984 |
The Green at Northwoods | 3000 Northwoods Pkwy, 30071 | 110,398 | 1984 |
Peachtree Corners Flex Center (3020) | 3020 Business Park Drive, 30071 | 9,561 | 1984 |
Worth noting among recent office completions on the Norcross market is The Offices @ Gwinnett Commons - 4155 Shackleford Road, which is currently the largest new office development in the city, at 144,521 square feet.
See reports for other markets
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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 Norcross 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.