2023 Office Space Rent & Sales
- $21.35 2023 Avg. Asking Rent
- -1.79% Y-o-Y Avg. Asking Rent Change
- 17.37% 2023 Office Vacancy Rate
Eagan office price per square foot in 2023 was $21.35 on average. This marked a -1.79% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 17.37% across all asset classes combined.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Eagan Class A & A+ Office Space$26.77
- Eagan Class B Office Space$17.24
- Eagan Class C Office Space$15.90
- Minnesota Class A & A+ Office Space$31.15
- Minnesota Class B Office Space$23.44
- Minnesota Class C Office Space$26.99
Eagan, MN Office Asking Rents by Class
Average office rent in Eagan rested at $21.35 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 Eagan averaged $26.77 per square foot. Across all submarkets, class B office space recorded an average asking rent of $17.24 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $15.90 per square foot, on average. Comparably, statewide Minnesota average office rents by class in 2023 were: $31.15 per square foot for class A office space; $23.44 per square foot for class B office space; $26.99 per square foot for class C office space.
Coworking Spaces in Minnesota
- New York City Coworking Space
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- Madison Coworking Space
2023 Office Construction in Eagan, MN
Office building | Address | SF | Completed |
---|---|---|---|
Flats at Cedar Grove | 3825 Cedar Grove Pkwy, 55122 | 299,038 | 2014 |
3000 Ames Crossing Road | 3000 Ames Crossing Road, 55121 | 116,549 | 2007 |
Boulder Lakes Business Park III | 3000 Ames Crossing Road, 55121 | 116,549 | 2007 |
Grand Oak Office IX & X | 2805 Dodd Road, 55121 | 122,956 | 2006 |
1335 Corporate Center Curve | 1335 Corporate Center Curve, 55121 | 18,000 | 2006 |
1915 Plaza Drive | 1915 Plaza Drive, 55122 | 47,589 | 2005 |
1915 Plaza Drive | 1915 Plaza Drive, 55122 | 31,215 | 2005 |
Waters Business Center V, VI & VII | 2955 Lone Oak Drive, 55121 | 128,077 | 2004 |
1515 Central Parkway | 1515 Central Pkwy, 55121 | 88,165 | 2003 |
1515 Central Pkwy | 1515 Central Pkwy, 55121 | 84,408 | 2003 |
Worth noting among recent office completions on the Eagan market is Flats at Cedar Grove, which is currently the largest new office development in the city, at 299,038 square feet.
See reports for other markets
- Minneapolis Office Rent Price
- St. Paul Office Rent Price
- Bloomington Office Rent Price
- Edina Office Rent Price
- Eden Prairie Office Rent Price
- Minnetonka 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 Eagan 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.