2023 Office Space Rent & Sales
- $22.70 2023 Avg. Asking Rent
- 14.57% 2023 Office Vacancy Rate
- $15.7M2023 Total Office Sales
- $156.20Avg. Sale Price/SF
St. Petersburg office price per square foot in 2023 was $22.70 on average. The local office market recorded an average vacancy rate of 14.57% across all asset classes combined. The 5 transactions that closed here throughout 2023 amounted to a total sale volume of $15.7M. St. Petersburg office space commanded an average sale price per square foot of $156.20.
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
St. Petersburg, FL Office Asking Rents by Class
2023 Office Vacancy Rates in St. Petersburg
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Gateway | $25.37 | 13.29% |
Mid-Pinellas County | $20.83 | 6.41% |
St Petersburg | $19.38 | 13.78% |
St. Petersburg Office Sale Price per SF
- $156.202023 Avg. Price per SF
- -22.74%Y-o-Y Avg. PpSF Change
- $15.7M2023 Office Sales Volume
- 52023 Number of Transactions
St. Petersburg, FL Sale Price per SF Trend
- St. Petersburg Avg. Sale Price per SF in 2023$156.20
- Florida Avg. Sale Price per SF in 2023$213.92
2023 Office Sales Volume
- St. Petersburg, FL Total Office Sales Volume in 2023 $15.7M
- St. Petersburg, FL Total Number of Office Sales Closed in 2023 5
Coworking Spaces in Florida
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2023 Office Construction in St. Petersburg, FL
- St. Petersburg, FL Total SF completed in 2023 43,200
During 2023, 43,200 square feet of new office space were delivered across the market. At the close of 2023, the St. Petersburg office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 43,200 square feet of office space.
Office building | Address | SF | Completed |
---|---|---|---|
Medical Office | 625 6th Ave S. Suite 455 , 33705 | 83,364 | 2007 |
299 1st Avenue North | 299 1st Avenue North, 33701 | 212,000 | 2006 |
Roosevelt III | 11101 Roosevelt Blvd North, 33716 | 169,000 | 2003 |
Medical/Professional Office | 7855 38th Ave N, 33710 | 1,517 | 2003 |
Catalina Marketing Corporation | 200 Carillon Parkway, 33716 | 157,755 | 2000 |
Castille at Carillon | 400 Carillon Pkwy, 33716 | 138,799 | 1999 |
570 Carillon Parkway | 570 Carillon Parkway, 33716 | 234,709 | 1998 |
5450 4th St N | 5450 4th St N St. Petersburg, 33703 | 4,250 | 1998 |
Edward White - Medical Arts II | 2191 9th Avenue North, 33713 | 38,580 | 1994 |
200 Central | 200 Central Avenue, 33701 | 295,200 | 1990 |
Worth noting among recent office completions on the St. Petersburg market is Medical Office, which is currently the largest new office development in the city, at 83,364 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 St. Petersburg 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.