Coral Springs Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $30.16 2023 Avg. Asking Rent
  • 4.44% Y-o-Y Avg. Asking Rent Change
  • 13.37% 2023 Office Vacancy Rate
  • $25.2M2023 Total Office Sales
  • $235.45Avg. Sale Price/SF

Coral Springs office price per square foot in 2023 was $30.16 on average. This marked a +4.44% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 13.37% across all asset classes combined. The 3 transactions that closed here throughout 2023 amounted to a total sale volume of $25.2M. Coral Springs office space commanded an average sale price per square foot of $235.45.

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

  • Florida Class A & A+ Office Space$36.87
  • Florida Class B Office Space$27.52
  • Florida Class C Office Space$32.32

Coral Springs, FL Office Asking Rents by Class

Office Spaces for Rent in Florida

Coral Springs Office Sale Price per SF

  • $235.452023 Avg. Price per SF
  • 21.46%Y-o-Y Avg. PpSF Change
  • $25.2M2023 Office Sales Volume
  • 32023 Number of Transactions

Coral Springs, FL Sale Price per SF Trend

  • Coral Springs Avg. Sale Price per SF in 2023$235.45
  • Florida Avg. Sale Price per SF in 2023$213.92
Coral Springs office space cost in 2023 marked a +21.46% change compared to the previous year. The sale price for office space in Coral Springs averaged $235.45 per square foot in 2023, across all market subdivisions and asset classes. Conversely, the statewide Florida average office sale price during the same time period was $213.92 per square foot.

2023 Office Sales Volume

  • Coral Springs, FL Total Office Sales Volume in 2023 $25.2M
  • Coral Springs, FL Total Number of Office Sales Closed in 2023 3
A total of 3 deals closed on the Coral Springs office market in 2023, adding up to a yearly sales volume of $25.2M. Notably, the largest transaction on the market saw 9750 NW 33rd Street change hands for $15,375,000 on 12/26/2023.
Data provided by Commercial Edge

Coworking Spaces in Florida

2023 Office Construction in Coral Springs, FL

Largest Office Properties Recently Completed in Coral Springs
Office building Address SF Completed
Coral Landings II 6270 West Sample Road, 33067 103,000 2008
Heron Bay Corporate Center I - Bldg. 4 5830 Coral Ridge Drive, 33076 45,383 2008
Coral Springs MOB II 3001 Coral Hills Drive, 33065 45,298 2008
Heron Bay Corporate Center 1 5850 Coral Ridge Drive #202, 33076 514 2007
Heron Bay Corporate Center I - Bldg. 3 5810 Coral Ridge Drive, 33076 45,344 2006
MedArts in the Springs I 2901 Coral Hills Drive, 33065 45,299 2005
Coral Springs MOB I 2901 Coral Hills Drive, 33065 45,299 2005
5571 North University Drive 5571 North University Drive, 33067 200 2005
Heron Bay Corporate Center - Bldg 1 11575 Heron Bay Boulevard, 33076 45,000 2000
Heron Bay Corporate Center I & II 11555 Heron Bay Blvd, 33076 89,043 1999

Worth noting among recent office completions on the Coral Springs market is Coral Landings II, which is currently the largest new office development in the city, at 103,000 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 Coral Springs 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.