2023 Office Space Rent & Sales
- $19.21 2023 Avg. Asking Rent
- 8.39% 2023 Office Vacancy Rate
Buffalo office price per square foot in 2023 was $19.21 on average. The local office market recorded an average vacancy rate of 8.39% 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
- New York Class A & A+ Office Space$64.56
- New York Class B Office Space$36.62
- New York Class C Office Space$45.97
Buffalo, NY Office Asking Rents by Class
2023 Office Vacancy Rates in Buffalo
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Airport | $20.00 | 15.90% |
| Buffalo - Central Business District | $17.28 | 10.75% |
| University | $17.06 | 13.63% |
| Outlying Erie County | $16.36 | 7.68% |
| Lackawanna - Orchard Park | $12.00 | 9.29% |
Office Spaces for Rent in New York
Coworking Spaces in New York
- New York City Coworking Space
- Manhattan Coworking Space
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- Brooklyn Coworking Space
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- Grand Rapids Coworking Space
2023 Office Construction in Buffalo, NY
- Buffalo, NY Total SF under construction in 2024 177,782
| Office building | Address | SF | Completed |
|---|---|---|---|
| 799 Seneca Street | 799 Seneca Street, 14210 | 85,000 | 2021 |
| HANSA workspace (Private Offices & Coworking) | 505 Ellicott Street, 14203 | 32,000 | 2020 |
| Conventus | 1001 Main Street, 14203 | 335,000 | 2015 |
| 200 Delaware Avenue | 200 Delaware Avenue, 14202 | 381,101 | 2009 |
| 257 West Genesee Street | 257 West Genesee Street, 14202 | 430,458 | 2007 |
| 285 Delaware Avenue | , 14202 | 109,078 | 2007 |
| WNY Medical Arts Center | 700 Michigan Avenue, 14203 | 30,000 | 2007 |
| Retail & Office Space | 2227 S Park Ave, 14220 | 23,288 | 2007 |
| 1625 Broadway St | 1625 Broadway St, 14212 | 13,207 | 2000 |
| Key Center at Fountain Plaza - South Tower | 40 Fountain Plaza, 14202 | 182,363 | 1999 |
Worth noting among recent office completions on the Buffalo market is 799 Seneca Street, which is currently the largest new office development in the city, at 85,000 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 Buffalo 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.