2023 Office Space Rent & Sales
- $20.58 2023 Avg. Asking Rent
- 13.88% 2023 Office Vacancy Rate
New London office price per square foot in 2023 was $20.58 on average. The local office market recorded an average vacancy rate of 13.88% across all asset classes combined.
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
- Connecticut Class A & A+ Office Space$33.28
- Connecticut Class B Office Space$23.34
- Connecticut Class C Office Space$27.95
New London, CT Office Asking Rents by Class
Office Spaces for Rent in Connecticut
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Coworking Spaces in Connecticut
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| Office building | Address | SF | Completed |
|---|---|---|---|
| 1 Chelsea Street | 1 Chelsea Street, 06320 | 90,400 | 1990 |
| 5 Shaws Cove | 5 Shaws Cove, 06320 | 37,026 | 1987 |
| 4 Shaws Cove | 4 Shaws Cove, 06320 | 29,236 | 1987 |
| 464 Ocean Avenue | 464 Ocean Avenue, 06320 | 10,500 | 1957 |
| 27 Masonic Street | 27 Masonic Street, 06320 | 35,112 | 1933 |
| 419 Montauk Avenue | 419 Montauk Avenue, 06320 | 3,082 | 1925 |
| 153 State Street | 153 State Street, 06320 | 81,312 | 1885 |
| Harris Place | 165 State Street, 06320 | 81,312 | 1885 |
| 27 Bank Street | 27 Bank Street, 06320 | 11,676 | 1875 |
Worth noting among recent office completions on the New London market is 1 Chelsea Street, which is currently the largest new office development in the city, at 90,400 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 New London 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.