2023 Office Space Rent & Sales
- $18.48 2023 Avg. Asking Rent
- -1.35% Y-o-Y Avg. Asking Rent Change
- 12.75% 2023 Office Vacancy Rate
Newport News office price per square foot in 2023 was $18.48 on average. This marked a -1.35% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 12.75% across all asset classes combined.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Newport News Class A & A+ Office Space$20.00
- Newport News Class B Office Space$18.39
- Virginia Class A & A+ Office Space$36.28
- Virginia Class B Office Space$26.18
- Virginia Class C Office Space$32.04
Newport News, VA Office Asking Rents by Class
Coworking Spaces in Virginia
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2023 Office Construction in Newport News, VA
Office building | Address | SF | Completed |
---|---|---|---|
11719 Jefferson Avenue | 11719 Jefferson Avenue, 23606 | 22,000 | 2008 |
675 Town Center Dr | 675 Town Center Dr, 23606 | 1,200 | 2004 |
Townebank Center | 1 Old Oyster Point Road, 23602 | 60,000 | 1999 |
704 City Center Blvd | 704 City Center Blvd, 23606 | 21,319 | 1998 |
11864 Canon Blvd | 11864 Canon Blvd, 23606 | 38,000 | 1991 |
Oyster Point Business Park - Rock Landing IV & V | 11844 Rock Landing Drive, 23606 | 36,250 | 1990 |
SunTrust Bank Building | 11817 Canon Blvd, 23606 | 100,746 | 1989 |
Patrick Henry | 12350 Jefferson Avenue, 23602 | 99,100 | 1989 |
The Atrium Building | 11832 Rock Landing Drive, 23606 | 64,134 | 1988 |
603 Pilot House Drive | 603 Pilot House Drive, 23606 | 34,704 | 1988 |
Worth noting among recent office completions on the Newport News market is 11719 Jefferson Avenue, which is currently the largest new office development in the city, at 22,000 square feet.
See reports for other markets
- Richmond Office Rent Price
- Virginia Beach Office Rent Price
- Arlington Office Rent Price
- Henrico Office Rent Price
- Alexandria Office Rent Price
- Fredericksburg Office Rent Price
- Fairfax Office Rent Price
- Glen Allen Office Rent Price
- Norfolk Office Rent Price
- Chesapeake Office Rent Price
- Herndon Office Rent Price
- Chantilly Office Rent Price
- McLean Office Rent Price
- Vienna Office Rent Price
- Reston Office Rent Price
- Sterling Office Rent Price
- Tysons Office Rent Price
- Falls Church Office Rent Price
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 Newport News 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.