2023 Office Space Rent & Sales
- $19.54 2023 Avg. Asking Rent
- 1.70% Y-o-Y Avg. Asking Rent Change
- 25.36% 2023 Office Vacancy Rate
Lansing office price per square foot in 2023 was $19.54 on average. This marked a +1.70% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 25.36% 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
Lansing, MI Office Asking Rents by Class
Office Spaces for Rent in Michigan
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2023 Office Construction in Lansing, MI
| Office building | Address | SF | Completed |
|---|---|---|---|
| 3165 East Michigan Avenue | 3165 East Michigan Avenue, 48912 | 304,110 | 2017 |
| Maurer's Mall | 2824 E Grand River Ave, 48912 | 13,761 | 2003 |
| 5236 Dumond CT | 5236 Dumond CT, 48917 | 10,188 | 2003 |
| Marketplace Office Park | 8158 Executive Ct, 48917 | 6,137 | 2003 |
| 8164 Executive Ct | 8164 Executive Ct, 48917 | 13,360 | 2002 |
| 1044 Eastbury Drive | 1044 Eastbury Drive, 48917 | 29,768 | 2001 |
| 1044 Eastbury Dr | 1044 Eastbury Dr, 48917 | 29,768 | 2001 |
| Marketplace Office Park | 8161 Executive Ct, 48917 | 10,301 | 2001 |
| 1000 W St Joseph St | 1000 W St Joseph St, 48915 | 9,945 | 2001 |
| 5643 Enterprise Drive | 5643 Enterprise Drive, 48911 | 80,256 | 2000 |
Worth noting among recent office completions on the Lansing market is 3165 East Michigan Avenue, which is currently the largest new office development in the city, at 304,110 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 Lansing 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.