2023 Office Space Rent & Sales
- $18.11 2023 Avg. Asking Rent
- 19.63% 2023 Office Vacancy Rate
Winston-Salem office price per square foot in 2023 was $18.11 on average. The local office market recorded an average vacancy rate of 19.63% 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
- Winston-Salem Class A & A+ Office Space$24.46
- Winston-Salem Class B Office Space$16.45
- Winston-Salem Class C Office Space$13.00
- 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
Winston-Salem, NC Office Asking Rents by Class
Average office rent in Winston-Salem rested at $18.11 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 Winston-Salem averaged $24.46 per square foot. Across all submarkets, class B office space recorded an average asking rent of $16.45 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $13.00 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 Winston-Salem
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Winston-Salem CBD | $20.42 | 12.03% |
| South Winston-Salem | $18.99 | 6.92% |
| West Winston-Salem | $17.00 | 51.93% |
| North Winston-Salem | $16.37 | 32.98% |
Office Spaces for Rent in North Carolina
Coworking Spaces in North Carolina
- Atlanta Coworking Space
- Miami Coworking Space
- Nashville Coworking Space
- Charlotte Coworking Space
- Philadelphia Coworking Space
- Cincinnati Coworking Space
- Columbus Coworking Space
- Jacksonville Coworking Space
- Raleigh Coworking Space
- Tampa Coworking Space
- Orlando Coworking Space
- Pittsburgh Coworking Space
- Alexandria Coworking Space
- Fort Lauderdale Coworking Space
- Boca Raton Coworking Space
- Memphis Coworking Space
- Durham Coworking Space
- Alpharetta Coworking Space
- Richmond Coworking Space
- Asheville Coworking Space
- Chattanooga Coworking Space
2023 Office Construction in Winston-Salem, NC
| Office building | Address | SF | Completed |
|---|---|---|---|
| Bailey South | 450 North Patterson Avenue, 27101 | 75,000 | 2020 |
| Bailey Power Plant | 450 North Patterson Avenue, 27101 | 110,800 | 2018 |
| Wake Forest Innovation Quarter - 525@vine | 525 Vine Street, 27101 | 234,000 | 2014 |
| 751 West 4th Street | 751 West 4th Street, 27101 | 51,942 | 2014 |
| 2860 Lyndhurst Avenue | 2860 Lyndhurst Avenue, 27103 | 3,663 | 2014 |
| 6010 Golding Center Drive | 6010 Golding Center Drive, 27103 | 50,000 | 2008 |
| Trader’s Row | 530 North Trade Street NW, 27101 | 65,180 | 2007 |
| 6010 Golding Center Drive | 6010 Golding Center Drive, 27103 | 50,000 | 2007 |
| 1598 Westbrook Plaza Dr | 1598 Westbrook Plaza Dr, 27103 | 19,718 | 2007 |
| 841 Old Winston Rd | 841 Old Winston Rd, 27284 | 11,694 | 2007 |
Worth noting among recent office completions on the Winston-Salem market is Bailey South, which is currently the largest new office development in the city, at 75,000 square feet.
See reports for other markets
- Charlotte Office Rent Price
- Raleigh Office Rent Price
- Durham Office Rent Price
- Greensboro Office Rent Price
- Cary Office Rent Price
- Asheville Office Rent Price
- San Antonio Office Rent Price
- San Francisco Office Rent Price
- Washington Office Rent Price
- Chicago Office Rent Price
- Los Angeles Office Rent Price
- Denver Office Rent Price
- Austin Office Rent Price
- Miami Office Rent Price
- Seattle Office Rent Price
- Phoenix 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 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 Winston-Salem 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.