2023 Office Space Rent & Sales
- $25.02 2023 Avg. Asking Rent
- -2.58% Y-o-Y Avg. Asking Rent Change
- 16.71% 2023 Office Vacancy Rate
Bloomfield Hills office price per square foot in 2023 was $25.02 on average. This marked a -2.58% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 16.71% 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
Bloomfield Hills, MI Office Asking Rents by Class
Office Spaces for Rent in Michigan
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| Office building | Address | SF | Completed |
|---|---|---|---|
| Bloomfield Centre - South | 39533 Woodward Avenue, 48304 | 137,356 | 1988 |
| Governor's Place | 33 Bloomfield Hills Pkwy, 48304 | 60,000 | 1987 |
| Stoneridge Office Park - Stoneridge III | 40900 Woodward Avenue, 48304 | 62,518 | 1986 |
| Taubman Corporate Headquarters | 200 East Long Lake Road, 48304 | 157,608 | 1984 |
| Stoneridge II Office Building | 40950 Woodward Avenue, 48304 | 110,544 | 1984 |
| Bloomfield Office Center - 38505 Woodward Avenue | 38505 Woodward Avenue, 48304 | 90,300 | 1982 |
| 77 E Long Lake Rd | 77 E Long Lake Rd, 48304 | 6,000 | 1982 |
| Stoneridge Office Park - Stoneridge I | 41000 Woodward Avenue, 48304 | 155,707 | 1981 |
| 21 East Long Lake Road | 21 East Long Lake Road, 48304 | 26,688 | 1974 |
| Bloomfield Office Center - 40701 Woodward Avenue | 40701 Woodward Avenue, 48304 | 77,497 | 1969 |
Worth noting among recent office completions on the Bloomfield Hills market is Bloomfield Centre - South, which is currently the largest new office development in the city, at 137,356 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 Bloomfield Hills 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.