2023 Office Space Rent & Sales
- $16.77 2023 Avg. Asking Rent
- 0.04% Y-o-Y Avg. Asking Rent Change
- 22.04% 2023 Office Vacancy Rate
Fort Wayne office price per square foot in 2023 was $16.77 on average. This marked a +0.04% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 22.04% 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
- Fort Wayne Class A & A+ Office Space$18.86
- Fort Wayne Class B Office Space$16.17
- Indiana Class A & A+ Office Space$24.47
- Indiana Class B Office Space$18.61
- Indiana Class C Office Space$19.83
Fort Wayne, IN Office Asking Rents by Class
2023 Office Vacancy Rates in Fort Wayne
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Fort Wayne - I-69 | $19.45 | 21.34% |
| Fort Wayne - East | $17.00 | 40.83% |
| Fort Wayne - IN-3 | $16.78 | 37.94% |
| Fort Wayne - Central | $16.65 | 11.30% |
| Fort Wayne - North | $15.00 | 46.84% |
Office Spaces for Rent in Indiana
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Coworking Spaces in Indiana
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2023 Office Construction in Fort Wayne, IN
- Fort Wayne, IN Total SF completed in 2023 272,423
- Fort Wayne, IN Total SF under construction in 2024 174,000
During 2023, 272,423 square feet of new office space were delivered across the market. At the close of 2023, the Fort Wayne office inventory included 3 buildings equal to or larger than 25,000 square feet, which comprised 272,423 square feet of office space. Looking forward, development activity throughout 2024 is estimated to add 174,000 square feet of office space to the market, before year-end.
| Office building | Address | SF | Completed |
|---|---|---|---|
| NEW CONSTRUCTION / Siena Office Park | 9600 Lima Road, 46818 | 7,133 | 2024 |
| The Ashberry - Retail for Lease | 222 West Berry Street, 46802 | 26,435 | 2023 |
| Timberlake Park | 9307 Illinois Rd, 46804 | 11,800 | 2023 |
| 2135 S. Hanna St. | 2135 S. Hanna St., 46803 | 16,770 | 2006 |
| 10216 Dupont Circle Dr E | 10216 Dupont Circle Dr E, 46825 | 8,173 | 2006 |
| 9071 Stellhorn Crossing Pkwy. | 9071 Stellhorn Crossing Pkwy., 46815 | 7,592 | 2006 |
| Fort Wayne Heart Center | 7916 Jefferson Boulevard, 46804 | 78,745 | 2004 |
| 10228 Dupont Circle Dr E | 10228 Dupont Circle Dr E, 46825 | 14,465 | 2003 |
| Waterstone Office Park | 9602 - 9604 Coldwater Rd, 46825 | 50,286 | 2002 |
| Coventry Office Space | 5750 Coventry Ln., 46804 | 15,654 | 2002 |
Worth noting among recent office completions on the Fort Wayne market is NEW CONSTRUCTION / Siena Office Park, which is currently the largest new office development in the city, at 7,133 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 Fort Wayne 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.