2023 Office Space Rent & Sales
- $25.53 2023 Avg. Asking Rent
- 19.32% 2023 Office Vacancy Rate
Richardson office price per square foot in 2023 was $25.53 on average. The local office market recorded an average vacancy rate of 19.32% across all asset classes combined.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Richardson Class A & A+ Office Space$28.61
- Richardson Class B Office Space$24.69
- Richardson Class C Office Space$19.53
- Texas Class A & A+ Office Space$36.17
- Texas Class B Office Space$24.95
- Texas Class C Office Space$31.07
Richardson, TX Office Asking Rents by Class
Average office rent in Richardson rested at $25.53 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 Richardson averaged $28.61 per square foot. Across all submarkets, class B office space recorded an average asking rent of $24.69 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $19.53 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 Richardson
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Plano | $26.46 | 16.77% |
North Dallas | $25.91 | 23.39% |
Telecom Corridor | $22.26 | 16.78% |
Coworking Spaces in Texas
- Houston Coworking Space
- Dallas Coworking Space
- Denver Coworking Space
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- Nashville Coworking Space
- San Antonio Coworking Space
- Phoenix Coworking Space
- Salt Lake City Coworking Space
- Scottsdale Coworking Space
- Kansas City Coworking Space
- Plano Coworking Space
- Fort Worth Coworking Space
- Colorado Springs Coworking Space
- Memphis Coworking Space
- St. Louis Coworking Space
- Boulder Coworking Space
- New Orleans Coworking Space
- Omaha Coworking Space
- Tulsa Coworking Space
- Tucson Coworking Space
- Chattanooga Coworking Space
2023 Office Construction in Richardson, TX
Office building | Address | SF | Completed |
---|---|---|---|
Richardson Data Center | 1510 E Lookout Dr, 75082 | 130,039 | 2019 |
Campbell Medical Park | 1080 W Campbell Rd, 75080 | 2,863 | 2014 |
190 Office Center - 1311 West President George Bush Hwy | 1311 West President George Bush Hwy, 75080 | 153,724 | 2007 |
The Shops at Eastside | 720 East Campbell Road, 75081 | 62,342 | 2007 |
The Shire | 3600 Shire Blvd, 75082 | 90,481 | 2005 |
Galatyn Commons D | 1011 Galatyn Pky, 75082 | 302,100 | 2001 |
Creekview Corporate Center II | 1300 East Lookout Drive, 75082 | 159,812 | 2001 |
190 Office Center - 1301 West President George Bush Hwy | 1301 West President George Bush Hwy, 75080 | 153,714 | 2001 |
Custer Court | 501 West President George Bush Hwy, 75080 | 121,598 | 2001 |
Galatyn Commons - Building D | 1011 Galatyn Pkwy, 75082 | 302,100 | 2000 |
Worth noting among recent office completions on the Richardson market is Richardson Data Center, which is currently the largest new office development in the city, at 130,039 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 Richardson 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.