Glendale Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $30.74 2024 Avg. Asking Rent
  • -3.91% Y-o-Y Avg. Asking Rent Change
  • 10.83% 2024 Office Vacancy Rate
  • $55.6M2024 Total Office Sales
  • $155.76Avg. Sale Price/SF

Glendale office price per square foot in 2024 was $30.74 on average. This marked a -3.91% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 10.83% across all asset classes combined. The 7 transactions that closed here throughout 2024 amounted to a total sale volume of $55.6M. Glendale office space commanded an average sale price per square foot of $155.76.

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

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Arizona Class A & A+ Office Space$33.12
  • Arizona Class B Office Space$24.39
  • Arizona Class C Office Space$18.69

Glendale, AZ Office Asking Rents by Class

2024 Office Vacancy Rates in Glendale

Submarket Asking Rents Vacancy Rates
Glendale $31.50 10.54%
Phoenix - Deer Valley $24.87 30.66%
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 Glendale market was 10.83% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Glendale was 10.54% in the Glendale submarket, while the highest office vacancy in the market was 30.66%, recorded in Phoenix - Deer Valley.

Office Spaces for Rent in Arizona

Glendale Office Sale Price per SF

  • $155.762024 Avg. Price per SF
  • -12.04%Y-o-Y Avg. PpSF Change
  • $55.6M2024 Office Sales Volume
  • 72024 Number of Transactions

Glendale, AZ Sale Price per SF Trend

  • Glendale Avg. Sale Price per SF in 2024$155.76
  • Arizona Avg. Sale Price per SF in 2024$155.40
Glendale office space cost in 2024 marked a -12.04% change compared to the previous year. The sale price for office space in Glendale averaged $155.76 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Arizona average office sale price during the same time period was $155.40 per square foot.

2024 Office Sales Volume

  • Glendale, AZ Total Office Sales Volume in 2024 $55.6M
  • Glendale, AZ Total Number of Office Sales Closed in 2024 7
A total of 7 deals closed on the Glendale office market in 2024, adding up to a yearly sales volume of $55.6M. Notably, the largest transaction on the market saw Westgate Medical Office Building change hands for $21,800,000 on 7/19/2024.
Data provided by Commercial Edge

Coworking Spaces in Arizona

2024 Office Construction in Glendale, AZ

Largest Office Properties Recently Completed in Glendale
Office building Address SF Completed
Arrowhead Professional Medical Plaza 16222 N 59th Ave, 85306 40,000 2008
7170 W Camino San Xavier 7170 W Camino San Xavier, 85308 6,845 2008
7170 W Camino San Xavier 7170 W Camino San Xavier, 85308 6,845 2008
Glendale Northwest 18185 N. 83rd Avenue, 85308 18,221 2006
Arrowhead Park Place 7155 W CAMPO BELLO DRIVE, BUILDING D, SUITE 135, 85308 7,950 2006
Arrowhead Physicians Plaza 18699 North 67th Avenue, 85308 48,698 2004
Arrowhead Orchards Medical Center 6320 West Union Hills Drive, 85308 126,780 2002
Arrowhead Executive Center 17235 N 75th Avenue, 85308 100,000 2000
6591 West Thunderbird Road 6591 West Thunderbird Road, 85306 10,956 2000
Arrowhead Creekside 7200 West Bell Road, 85308 69,921 1997

Worth noting among recent office completions on the Glendale market is Arrowhead Professional Medical Plaza, which is currently the largest new office development in the city, at 40,000 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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Glendale 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.