2023 Office Space Rent & Sales
- $20.27 2023 Avg. Asking Rent
- 13.63% 2023 Office Vacancy Rate
North Richland Hills office price per square foot in 2023 was $20.27 on average. The local office market recorded an average vacancy rate of 13.63% across all asset classes combined.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- North Richland Hills Class A & A+ Office Space$26.50
- North Richland Hills Class B Office Space$19.82
- North Richland Hills Class C Office Space$17.92
- Texas Class A & A+ Office Space$36.17
- Texas Class B Office Space$24.95
- Texas Class C Office Space$31.07
North Richland Hills, TX Office Asking Rents by Class
Average office rent in North Richland Hills rested at $20.27 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 North Richland Hills averaged $26.50 per square foot. Across all submarkets, class B office space recorded an average asking rent of $19.82 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $17.92 per square foot, on average. Comparably, statewide Texas average office rents by class in 2023 were: $36.17 per square foot for class A office space; $24.95 per square foot for class B office space; $31.07 per square foot for class C office space.
2023 Office Vacancy Rates in North Richland Hills
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
North Fort Worth | $20.90 | 9.34% |
East Fort Worth | $20.02 | 29.77% |
Coworking Spaces in Texas
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Office building | Address | SF | Completed |
---|---|---|---|
North Star Medical Park | 8169 Precinct Line Road, 76182 | 7,020 | 2021 |
8209 Mid Cities Blvd | 8209 Mid Cities Blvd, 76182 | 6,200 | 2009 |
8205 Mid Cities Blvd | 8205 Mid Cities Blvd, 76182 | 4,009 | 2009 |
8205 Mid Cities Blvd | 8205 Mid Cities Blvd, 76182 | 4,009 | 2009 |
Calloway Creek Medical Center | 4300 City Point Dr, 76180 | 79,172 | 2007 |
8233 Mid Cities Blvd | 8233 Mid Cities Blvd, 76182 | 3,824 | 2007 |
8233 Mid Cities Blvd | 8233 Mid Cities Blvd, 76182 | 3,824 | 2007 |
6252 N. Davis Blvd | 6252 Davis Blvd, 76180 | 5,014 | 2006 |
6252 Davis Blvd | 6252 Davis Blvd, 76180 | 5,014 | 2006 |
Woodforest Plaza | 8408 Davis Blvd, 76182 | 25,504 | 2005 |
Worth noting among recent office completions on the North Richland Hills market is North Star Medical Park, which is currently the largest new office development in the city, at 7,020 square feet.
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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 North Richland Hills 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.