2023 Office Space Rent & Sales
- $15.85 2023 Avg. Asking Rent
- 1.88% Y-o-Y Avg. Asking Rent Change
- 7.25% 2023 Office Vacancy Rate
Toledo office price per square foot in 2023 was $15.85 on average. This marked a +1.88% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 7.25% 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
- Ohio Class A & A+ Office Space$24.12
- Ohio Class B Office Space$18.73
- Ohio Class C Office Space$19.85
Toledo, OH Office Asking Rents by Class
2023 Office Vacancy Rates in Toledo
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| West | $16.91 | 10.74% |
| Western Lucas County | $16.50 | 10.73% |
| CBD | $16.13 | 7.97% |
| Sylvania - Westgate | $15.76 | 8.20% |
Office Spaces for Rent in Ohio
- Columbus Office Space
- Cleveland Office Space
- Akron Office Space
- Dayton Office Space
- Dublin Office Space
- Toledo Office Space
- Westerville Office Space
- Newark Office Space
- Worthington Office Space
- Whitehall Office Space
- Gahanna Office Space
- Upper Arlington Office Space
- Delaware Office Space
- New Albany Office Space
- Reynoldsburg Office Space
Coworking Spaces in Ohio
- New York City Coworking Space
- Manhattan Coworking Space
- Chicago Coworking Space
- Washington Coworking Space
- Brooklyn Coworking Space
- Nashville Coworking Space
- Philadelphia Coworking Space
- Indianapolis Coworking Space
- Cincinnati Coworking Space
- Columbus Coworking Space
- Pittsburgh Coworking Space
- Alexandria Coworking Space
- Detroit Coworking Space
- Memphis Coworking Space
- Louisville Coworking Space
- Jersey City Coworking Space
- Cleveland Coworking Space
- Queens Coworking Space
- Richmond Coworking Space
- Ann Arbor Coworking Space
- Grand Rapids Coworking Space
2023 Office Construction in Toledo, OH
- Toledo, OH Total SF completed in 2023 106,952
During 2023, 106,952 square feet of new office space were delivered across the market. At the close of 2023, the Toledo office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 106,952 square feet of office space.
| Office building | Address | SF | Completed |
|---|---|---|---|
| 7540 New West Road | 7540 New West Road, 43617 | 7,500 | 2014 |
| 7349 Crossleigh Ct | 7349 Crossleigh Ct, 43617 | 18,109 | 2010 |
| 3425 Executive Parkway | 3425 Executive Parkway, 43606 | 39,904 | 2006 |
| 5755 Park Center Court | 5755 Park Center Court, 43615 | 6,000 | 2003 |
| 5942 Renaissance Place | 5942 Renaissance Place, 43623 | 4,106 | 2002 |
| 5942 Renaissance Place | 5942 Renaissance Place, 43623 | 4,106 | 2002 |
| 1801 Richards Road | 1801 Richards Road, 43607 | 54,544 | 1995 |
| 7150 Granite Circle, 2nd Floor | 7150 Granite Circle, 2nd Floor, 43617 | 21,528 | 1994 |
| 6800 W. Central Building G | 6800 Central Avenue Building G, 43617 | 4,576 | 1994 |
| 4640 W. Alexis Road | 4640 W. Alexis Road, 43623 | 11,680 | 1991 |
Worth noting among recent office completions on the Toledo market is 7540 New West Road, which is currently the largest new office development in the city, at 7,500 square feet.
See reports for other markets
- Cincinnati Office Rent Price
- Columbus Office Rent Price
- Cleveland Office Rent Price
- Dayton Office Rent Price
- Akron Office Rent Price
- Dublin Office Rent Price
- Blue Ash Office Rent Price
- Canton Office Rent Price
- Washington Office Rent Price
- Charlotte Office Rent Price
- Chicago Office Rent Price
- San Francisco Office Rent Price
- San Diego Office Rent Price
- Miami Office Rent Price
- Seattle Office Rent Price
- Dallas 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 Toledo 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.