2024 Office Space Rent & Sales
- $18.98 2024 Avg. Asking Rent
- 33.00% 2024 Office Vacancy Rate
Southfield office price per square foot in 2024 was $18.98 on average. The local office market recorded an average vacancy rate of 33.00% 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
2024 Average Office Rent per Square Foot
- Southfield Class A & A+ Office Space$19.79
- Southfield Class B Office Space$18.13
- Southfield Class C Office Space$13.62
- Michigan Class A & A+ Office Space$23.20
- Michigan Class B Office Space$21.30
- Michigan Class C Office Space$15.30
Southfield, MI Office Asking Rents by Class
Average office rent in Southfield rested at $18.98 per square foot in 2024. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Southfield averaged $19.79 per square foot. Across all submarkets, class B office space recorded an average asking rent of $18.13 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $13.62 per square foot, on average. Comparably, statewide Michigan average office rents by class in 2024 were: $23.20 per square foot for class A office space; $21.30 per square foot for class B office space; $15.30 per square foot for class C office space.
Office Spaces for Rent in Michigan
Coworking Spaces in Michigan
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| Office building | Address | SF | Completed |
|---|---|---|---|
| Southfield Crossing II | 25510 West 11 Mile Road, 48033 | 66,180 | 2003 |
| Quadrants Building | 25900 W. Eleven Mile Road, 48034 | 31,802 | 2003 |
| Southfield Crossing I | 25650 West 11 Mile Road, 48034 | 63,048 | 2000 |
| Oakland Commons I | 20700 Civic Center Drive, 48076 | 160,567 | 1999 |
| 26455 American Drive | 26455 American Drive, 48034 | 53,310 | 1999 |
| Raleigh Office Centre | 25300 Telegraph Rd, 48033 | 300,000 | 1989 |
| Raleigh Office Centre | 25300 Telegraph Rd, 48033 | 300,000 | 1989 |
| Galleria Officentre - 400 Galleria | 400 Galleria Officentre, 48034 | 245,861 | 1989 |
| One Northwestern Plaza | 28411 Northwestern Hwy, 48034 | 239,455 | 1989 |
| Riverside Center - Plug N Play | 25925 Telegraph, 48034 | 194,386 | 1989 |
Worth noting among recent office completions on the Southfield market is Southfield Crossing II, which is currently the largest new office development in the city, at 66,180 square feet.
See reports for other markets
- Ann Arbor Office Rent Price
- Detroit Office Rent Price
- Lansing Office Rent Price
- Troy Office Rent Price
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- Farmington Hills Office Rent Price
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- East Lansing Office Rent Price
- Los Angeles Office Rent Price
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- Seattle Office Rent Price
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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Southfield 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.