2023 Office Space Rent & Sales
- $20.05 2023 Avg. Asking Rent
- -3.62% Y-o-Y Avg. Asking Rent Change
- 12.60% 2023 Office Vacancy Rate
Baton Rouge office price per square foot in 2023 was $20.05 on average. This marked a -3.62% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 12.60% 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
- Baton Rouge Class A & A+ Office Space$23.67
- Baton Rouge Class B Office Space$17.96
- Baton Rouge Class C Office Space$16.00
- Louisiana Class A & A+ Office Space$21.52
- Louisiana Class B Office Space$18.84
- Louisiana Class C Office Space$19.96
Baton Rouge, LA Office Asking Rents by Class
Average office rent in Baton Rouge rested at $20.05 per square foot in 2023. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Baton Rouge averaged $23.67 per square foot. Across all submarkets, class B office space recorded an average asking rent of $17.96 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $16.00 per square foot, on average. Comparably, statewide Louisiana average office rents by class in 2023 were: $21.52 per square foot for class A office space; $18.84 per square foot for class B office space; $19.96 per square foot for class C office space.
2023 Office Vacancy Rates in Baton Rouge
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Baton Rouge - Downtown | $23.99 | 14.23% |
| Baton Rouge - East | $20.50 | 5.46% |
| Baton Rouge - Southeast | $19.49 | 11.40% |
| Baton Rouge - Mid City | $18.84 | 15.40% |
Office Spaces for Rent in Louisiana
Coworking Spaces in Louisiana
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2023 Office Construction in Baton Rouge, LA
| Office building | Address | SF | Completed |
|---|---|---|---|
| Garden-Style "New Construction" Office For Lease, Bldg. A | 4021 W. E. Heck Ct., Bldg. A, 70816 | 4,597 | 2024 |
| Market Plaza Garden-Style Office | 4021 W E Heck Ct., B-1, 70816 | 3,000 | 2017 |
| Market Plaza Garden-Style Office | 4021 W E Heck Ct , Bldg. I, 70816 | 3,000 | 2017 |
| Market Plaza Office Park | 4021 W. E. Heck Ct., Bldg. J, 70816 | 2,600 | 2017 |
| Mid-City Medical Office | 2902 Florida St, 70802 | 6,135 | 2015 |
| Market Plaza Office Park | 4021 W. E. Heck Ct., Bldg. L, 70816 | 3,499 | 2010 |
| II City Plaza | 400 Convention Street, 70802 | 255,474 | 2009 |
| Creekstone Office Park | 11408 Lake Sherwood North,, 70816 | 5,664 | 2009 |
| Creekstone Office Park | 11408 Lake Sherwood North,, 70816 | 5,664 | 2009 |
| 15151 Florida Blvd | 15151 Florida Blvd, 70819 | 140,822 | 2008 |
Worth noting among recent office completions on the Baton Rouge market is Garden-Style "New Construction" Office For Lease, Bldg. A, which is currently the largest new office development in the city, at 4,597 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 Baton Rouge 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.