2023 Office Space Rent & Sales
- $32.46 2023 Avg. Asking Rent
- 0.43% Y-o-Y Avg. Asking Rent Change
- 8.77% 2023 Office Vacancy Rate
Plymouth office price per square foot in 2023 was $32.46 on average. This marked a +0.43% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 8.77% 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
- Minnesota Class A & A+ Office Space$31.15
- Minnesota Class B Office Space$23.44
- Minnesota Class C Office Space$26.99
Plymouth, MN Office Asking Rents by Class
Office Spaces for Rent in Minnesota
Coworking Spaces in Minnesota
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2023 Office Construction in Plymouth, MN
- Plymouth, MN Total SF completed in 2023 70,000
During 2023, 70,000 square feet of new office space were delivered across the market. At the close of 2023, the Plymouth office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 70,000 square feet of office space.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Plymouth City Center Medical Building | 15655 37th Avenue North, 55446 | 50,000 | 2014 |
| Plymouth Creek Professional I & II | 3655 Plymouth Blvd, 55446 | 25,000 | 2006 |
| 9655 Schmidt Lake Road | 9655 Schmidt Lake Road, 55442 | 15,127 | 2006 |
| 9655 Schmidt Lake Road | 9655 Schmidt Lake Road, 55442 | 15,127 | 2006 |
| 3360 Annapolis Lane North | 3360 Annapolis Lane North, 55447 | 3,040 | 2004 |
| Plymouth City Center I | 15650 36th Ave N, 55446 | 20,765 | 2001 |
| Wings Financial Plymouth | 3455 Plymouth Blvd, 55447 | 13,000 | 2001 |
| 6000 Nathan Lane | 6000 Nathan Lane, 55442 | 190,000 | 1999 |
| 6000 Nathan Lane North | 6000 Nathan Lane North, 55442 | 182,250 | 1999 |
| Plymouth Woods Office Center | 3300 Fernbrook Ln, 55447 | 85,232 | 1998 |
Worth noting among recent office completions on the Plymouth market is Plymouth City Center Medical Building, which is currently the largest new office development in the city, at 50,000 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 Plymouth 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.