2023 Office Space Rent & Sales
- $25.01 2023 Avg. Asking Rent
- 11.77% 2023 Office Vacancy Rate
Columbia office price per square foot in 2023 was $25.01 on average. The local office market recorded an average vacancy rate of 11.77% 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
- Columbia Class A & A+ Office Space$29.48
- Columbia Class B Office Space$23.64
- Maryland Class A & A+ Office Space$32.58
- Maryland Class B Office Space$26.35
- Maryland Class C Office Space$29.18
Columbia, MD Office Asking Rents by Class
2023 Office Vacancy Rates in Columbia
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Columbia | $25.98 | 14.63% |
| Laurel | $18.75 | 2.85% |
Office Spaces for Rent in Maryland
- Washington Office Space
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Coworking Spaces in Maryland
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2023 Office Construction in Columbia, MD
- Columbia, MD Total SF under construction in 2024 86,000
| Office building | Address | SF | Completed |
|---|---|---|---|
| Lakefront District - 10285 Lakefront | 10285 Little Patuxent Pkwy, 21044 | 86,000 | 2024 |
| Lakeside Office & Retail Center | 8865 Stanford Blvd, 21045 | 85,000 | 2021 |
| Merriweather Row | 6100 Merriweather Dr, 21044 | 320,964 | 2019 |
| Merriweather Row - Two Merriweather | 10960 Grantchester Way, 21044 | 165,000 | 2017 |
| Two Merriweather | 10960 Grantchester Way, 21044 | 122,989 | 2017 |
| One Merriweather | 10980 Grantchester Way, 21044 | 210,000 | 2016 |
| Waterloo Crossing | 5900 Waterloo Road, 21045 | 66,000 | 2015 |
| Johns Hopkins Columbia II | 10710 Charter Drive, 21044 | 160,190 | 2009 |
| 8894 Stanford Blvd | 8894 Stanford Blvd, 21045 | 43,591 | 2009 |
| 8894 Stanford Blvd #304/305 | 8894 Stanford Blvd, 21045 | 4,279 | 2009 |
Worth noting among recent office completions on the Columbia market is Lakefront District - 10285 Lakefront, which is currently the largest new office development in the city, at 86,000 square feet.
See reports for other markets
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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 Columbia 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.