2023 Office Space Rent & Sales
- $25.33 2023 Avg. Asking Rent
- 1.24% Y-o-Y Avg. Asking Rent Change
- 21.62% 2023 Office Vacancy Rate
Ann Arbor office price per square foot in 2023 was $25.33 on average. This marked a +1.24% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 21.62% 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
- Michigan Class A & A+ Office Space$22.86
- Michigan Class B Office Space$21.46
- Michigan Class C Office Space$21.50
Ann Arbor, MI Office Asking Rents by Class
Office Spaces for Rent in Michigan
Coworking Spaces in Michigan
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2023 Office Construction in Ann Arbor, MI
- Ann Arbor, MI Total SF under construction in 2024 130,300
| Office building | Address | SF | Completed |
|---|---|---|---|
| 30 Parkland Plaza & 4261 Park Rd | 30 Parkland Plaza & 4261 Park Rd, 48103 | 30,343 | 2019 |
| New Construction Downtown Retail/Office Space For Lease | 1215 S. University, 48104 | 6,000 | 2017 |
| IHA Domino's Farms | 4200 Whitehall Dr, 48105 | 46,828 | 2014 |
| Fully Equipped Data Center for Sale - Ann Arbor | 6163 Jackson, 48103 | 900 | 2012 |
| 3752 South State Street | 3752 South State Street, 48108 | 4,485 | 2009 |
| Earhart Corporate Center | 2211 Old Earhart Road, 48105 | 196,087 | 2006 |
| Huron Valley Office Center | 2395 Oak Valley Dr, 48103 | 22,494 | 2006 |
| North Oak Office Complex | 8178 Jackson Rd, 48103 | 10,500 | 2006 |
| 5777 Hines Dr | 5777 Hines Dr, 48108 | 26,820 | 2005 |
| 5777 Hines Dr | 5777 Hines Dr, 48108 | 26,820 | 2005 |
Worth noting among recent office completions on the Ann Arbor market is 30 Parkland Plaza & 4261 Park Rd, which is currently the largest new office development in the city, at 30,343 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 Ann Arbor 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.