2023 Office Space Rent & Sales
- $20.69 2023 Avg. Asking Rent
- 20.56% 2023 Office Vacancy Rate
Greensboro office price per square foot in 2023 was $20.69 on average. The local office market recorded an average vacancy rate of 20.56% 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
- Greensboro Class A & A+ Office Space$21.76
- Greensboro Class B Office Space$19.92
- Greensboro Class C Office Space$17.81
- North Carolina Class A & A+ Office Space$32.22
- North Carolina Class B Office Space$25.82
- North Carolina Class C Office Space$29.73
Greensboro, NC Office Asking Rents by Class
Average office rent in Greensboro rested at $20.69 per square foot in 2023. 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 Greensboro averaged $21.76 per square foot. Across all submarkets, class B office space recorded an average asking rent of $19.92 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $17.81 per square foot, on average. Comparably, statewide North Carolina average office rents by class in 2023 were: $32.22 per square foot for class A office space; $25.82 per square foot for class B office space; $29.73 per square foot for class C office space.
2023 Office Vacancy Rates in Greensboro
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Greensboro CBD | $32.09 | 17.80% |
| North Greensboro - North Guilford County | $21.22 | 5.27% |
| West Greensboro | $19.94 | 14.75% |
| Airport - NW Guilford County | $19.86 | 26.60% |
| South Greensboro | $17.74 | 18.92% |
Office Spaces for Rent in North Carolina
Coworking Spaces in North Carolina
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2023 Office Construction in Greensboro, NC
- Greensboro, NC Total SF under construction in 2024 118,000
| Office building | Address | SF | Completed |
|---|---|---|---|
| 3200 Horse Pen Creek Rd | 3200 Horse Pen Creek Rd, 27410 | 13,700 | 2024 |
| 400 Bellemeade St | 400 Bellemeade St, 27401 | 110,306 | 2021 |
| Kirkwood Place | 2800 Lawndale Drive, 27408 | 50,895 | 2017 |
| 5601 & 5603 New Garden Village Drive | 5601 & 5603 New Garden Village Drive, 27410 | 23,442 | 2008 |
| 5603 New Garden Village Drive | 5603 New Garden Village Drive, 27410 | 11,766 | 2008 |
| Friendly Center - Truist Building | 3318 W Friendly Ave, 27410 | 60,000 | 2007 |
| 1107 Magnolia Street | 1107 Magnolia St, 27401 | 2,134 | 2006 |
| 4275 Regency Dr | 4275 Regency Dr, 27410 | 9,678 | 2004 |
| Gateway Business Center | 2400 Freeman Mill Road, 27406 | 37,000 | 2003 |
| Lake Jeanette Station | 3610 N. Elm Street, 27455 | 17,250 | 2003 |
Worth noting among recent office completions on the Greensboro market is 3200 Horse Pen Creek Rd, which is currently the largest new office development in the city, at 13,700 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 Greensboro 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.