2023 Office Space Rent & Sales
- $19.44 2023 Avg. Asking Rent
- 4.18% Y-o-Y Avg. Asking Rent Change
- 16.79% 2023 Office Vacancy Rate
Lanham office price per square foot in 2023 was $19.44 on average. This marked a +4.18% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 16.79% 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
- Maryland Class A & A+ Office Space$32.58
- Maryland Class B Office Space$26.35
- Maryland Class C Office Space$29.18
Lanham, MD Office Asking Rents by Class
2023 Office Vacancy Rates in Lanham
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Hyattsville | $25.68 | 11.20% |
| Greenbelt | $23.23 | 17.79% |
| Lanham - Bowie | $19.44 | 16.86% |
Office Spaces for Rent in Maryland
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Coworking Spaces in Maryland
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| Office building | Address | SF | Completed |
|---|---|---|---|
| Goddard Corporate Park | 7515 & 7535 Mission Dr, 20706 | 114,700 | 1993 |
| 4200 Parliament Place | 4200 Parliament Place, 20706 | 122,000 | 1989 |
| 4200 Parliament Place | 4200 Parliament Place, 20706 | 122,000 | 1989 |
| 7940 Johnson Ave | 7940 Johnson Ave, 20706 | 3,000 | 1986 |
| 4600 Forbes Blvd. | 4600 Forbes Blvd., 20706 | 168,243 | 1973 |
Worth noting among recent office completions on the Lanham market is Goddard Corporate Park, which is currently the largest new office development in the city, at 114,700 square feet.
See reports for other markets
- Baltimore Office Rent Price
- Rockville Office Rent Price
- Columbia Office Rent Price
- Annapolis Office Rent Price
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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 Lanham 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.