Sunrise Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $29.82 2023 Avg. Asking Rent
  • 16.61% 2023 Office Vacancy Rate
  • $47.1M2023 Total Office Sales
  • $295.42Avg. Sale Price/SF

Sunrise office price per square foot in 2023 was $29.82 on average. The local office market recorded an average vacancy rate of 16.61% across all asset classes combined. The 3 transactions that closed here throughout 2023 amounted to a total sale volume of $47.1M. Sunrise office space commanded an average sale price per square foot of $295.42.

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

  • Sunrise Class A & A+ Office Space$32.83
  • Sunrise Class B Office Space$24.47
  • Florida Class A & A+ Office Space$36.87
  • Florida Class B Office Space$27.52
  • Florida Class C Office Space$32.32

Sunrise, FL Office Asking Rents by Class

2023 Office Vacancy Rates in Sunrise

Submarket Asking Rents Vacancy Rates
Davie $39.22 0.00%
Sunrise $34.22 13.12%
Sawgrass $29.68 22.10%
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 Sunrise market was 16.61% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Sunrise was 0.00% in the Davie submarket, while the highest office vacancy in the market was 22.10%, recorded in Sawgrass.

Office Spaces for Rent in Florida

Sunrise Office Sale Price per SF

  • $295.422023 Avg. Price per SF
  • 42.67%Y-o-Y Avg. PpSF Change
  • $47.1M2023 Office Sales Volume
  • 32023 Number of Transactions

Sunrise, FL Sale Price per SF Trend

  • Sunrise Avg. Sale Price per SF in 2023$295.42
  • Florida Avg. Sale Price per SF in 2023$213.92
Sunrise office space cost in 2023 marked a +42.67% change compared to the previous year. The sale price for office space in Sunrise averaged $295.42 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

  • Sunrise, FL Total Office Sales Volume in 2023 $47.1M
  • Sunrise, FL Total Number of Office Sales Closed in 2023 3
A total of 3 deals closed on the Sunrise office market in 2023, adding up to a yearly sales volume of $47.1M. Notably, the largest transaction on the market saw William "Bill" King VA Clinic change hands for $38,150,000 on 1/17/2023.
Data provided by Commercial Edge

Coworking Spaces in Florida

2023 Office Construction in Sunrise, FL

Largest Office Properties Recently Completed in Sunrise
Office building Address SF Completed
8870 W Oakland Park Blvd #102 8870 W Oakland Park Blvd #102, 33351 3,244 2009
Lake Shore Plaza II 1300 Concord Terrace, 33323 145,000 2008
Lake Shore Plaza at Sawgrass II 1300 Concord Terrace, 33323 128,470 2008
Lake Shore Plaza 1301 International Pkwy, 33323 140,160 2006
10000 West Commercial Blvd 10000 West Commercial Blvd, 33351 13,552 2004
Digital Antenna 5305 Northwest 108th Avenue, 33351 21,030 2001
Sawgrass Lake Center 13450 W Sunrise Blvd, 33323 239,373 2000
Sunset Plaza - 13621 NW 12th Street 13621 NW 12th Street, 33323 106,425 2000
International Place at Sawgrass 1560 Sawgrass Corporate Parkway, 33323 93,631 2000
13680 NW 5th Street 13680 NW 5th Street, 33325 35,674 1999

Worth noting among recent office completions on the Sunrise market is 8870 W Oakland Park Blvd #102, which is currently the largest new office development in the city, at 3,244 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 Sunrise 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.