Chandler Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $31.63 2023 Avg. Asking Rent
  • 0.33% Y-o-Y Avg. Asking Rent Change
  • 30.63% 2023 Office Vacancy Rate
  • $62.7M2023 Total Office Sales
  • $199.05Avg. Sale Price/SF

Chandler office price per square foot in 2023 was $31.63 on average. This marked a +0.33% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 30.63% across all asset classes combined. The 7 transactions that closed here throughout 2023 amounted to a total sale volume of $62.7M. Chandler office space commanded an average sale price per square foot of $199.05.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2023 Average Office Rent per Square Foot

  • Chandler Class A & A+ Office Space$32.37
  • Chandler Class B Office Space$30.49
  • Arizona Class A & A+ Office Space$32.35
  • Arizona Class B Office Space$23.61
  • Arizona Class C Office Space$27.68

Chandler, AZ Office Asking Rents by Class

2023 Office Vacancy Rates in Chandler

Submarket Asking Rents Vacancy Rates
Chandler $31.55 30.91%
Gilbert $23.30 8.50%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Chandler market was 30.63% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Chandler was 8.50% in the Gilbert submarket, while the highest office vacancy in the market was 30.91%, recorded in Chandler.

Office Spaces for Rent in Arizona

Chandler Office Sale Price per SF

  • $199.052023 Avg. Price per SF
  • -32.81%Y-o-Y Avg. PpSF Change
  • $62.7M2023 Office Sales Volume
  • 72023 Number of Transactions

Chandler, AZ Sale Price per SF Trend

  • Chandler Avg. Sale Price per SF in 2023$199.05
  • Arizona Avg. Sale Price per SF in 2023$180.53
Chandler office space cost in 2023 marked a -32.81% change compared to the previous year. The sale price for office space in Chandler averaged $199.05 per square foot in 2023, across all market subdivisions and asset classes. Conversely, the statewide Arizona average office sale price during the same time period was $180.53 per square foot.

2023 Office Sales Volume

  • Chandler, AZ Total Office Sales Volume in 2023 $62.7M
  • Chandler, AZ Total Number of Office Sales Closed in 2023 7
A total of 7 deals closed on the Chandler office market in 2023, adding up to a yearly sales volume of $62.7M. Notably, the largest transaction on the market saw Chandler Corporate Center IV change hands for $17,200,000 on 1/13/2023.
Data provided by Commercial Edge

Coworking Spaces in Arizona

2023 Office Construction in Chandler, AZ

Largest Office Properties Recently Completed in Chandler
Office building Address SF Completed
Allred Park Place 1475 S Price Road, 85286 150,000 2021
Allred Park Place 1375 S Price Road, 85286 150,000 2021
AZ202 Commerce Park - Bldg. A 1600 S Hamilton St, 85286 65,892 2020
New Square 180 S Arizona Avenue, 85225 51,000 2020
The Office at Chandler Viridian 3133 West Frye Road, 85226 249,217 2019
Chandler Freeway Crossing - 2625 West Geronimo Place 2625 West Geronimo Place, 85224 153,370 2019
Class A Office Space for Sublease in Chandler One Chandler Corporate Center 350 N McClintock Dr, 85226 117,394 2018
One Chandler Corporate Center - Building 1 350 North McClintock Drive, 85226 117,176 2018
2425 S Stearman Dr., Ste 220 2425 S Stearman Dr., Ste 220, 85286 67,386 2018
Chandler Corporate Center IV 4100 West Galveston Street, 85226 85,797 2016

Worth noting among recent office completions on the Chandler market is Allred Park Place, which is currently the largest new office development in the city, at 150,000 square feet.

Data provided by Commercial Edge

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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 Chandler 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.