Harrisburg Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $19.48 2023 Avg. Asking Rent
  • 4.08% Y-o-Y Avg. Asking Rent Change
  • 10.75% 2023 Office Vacancy Rate
  • $27.4M2023 Total Office Sales
  • $89.42Avg. Sale Price/SF

Harrisburg office price per square foot in 2023 was $19.48 on average. This marked a +4.08% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 10.75% across all asset classes combined. The 5 transactions that closed here throughout 2023 amounted to a total sale volume of $27.4M. Harrisburg office space commanded an average sale price per square foot of $89.42.

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

  • Harrisburg Class A & A+ Office Space$21.49
  • Harrisburg Class B Office Space$18.82
  • Harrisburg Class C Office Space$15.58
  • Pennsylvania Class A & A+ Office Space$32.78
  • Pennsylvania Class B Office Space$24.45
  • Pennsylvania Class C Office Space$29.06

Harrisburg, PA Office Asking Rents by Class

Average office rent in Harrisburg rested at $19.48 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 Harrisburg averaged $21.49 per square foot. Across all submarkets, class B office space recorded an average asking rent of $18.82 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $15.58 per square foot, on average. Comparably, statewide Pennsylvania average office rents by class in 2023 were: $32.78 per square foot for class A office space; $24.45 per square foot for class B office space; $29.06 per square foot for class C office space.

2023 Office Vacancy Rates in Harrisburg

Submarket Asking Rents Vacancy Rates
Harrisburg - East $20.99 10.94%
Harrisburg - Northeast $19.60 22.21%
Harrisburg - Southeast $18.61 4.88%
Harrisburg - CBD $18.06 6.55%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Harrisburg market was 10.75% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Harrisburg was 4.88% in the Harrisburg - Southeast submarket, while the highest office vacancy in the market was 22.21%, recorded in Harrisburg - Northeast.

Office Spaces for Rent in Pennsylvania

Harrisburg Office Sale Price per SF

  • $89.422023 Avg. Price per SF
  • -21.21%Y-o-Y Avg. PpSF Change
  • $27.4M2023 Office Sales Volume
  • 52023 Number of Transactions

Harrisburg, PA Sale Price per SF Trend

  • Harrisburg Avg. Sale Price per SF in 2023$89.42
  • Pennsylvania Avg. Sale Price per SF in 2023$124.26
Harrisburg office space cost in 2023 marked a -21.21% change compared to the previous year. The sale price for office space in Harrisburg averaged $89.42 per square foot in 2023, across all market subdivisions and asset classes. Conversely, the statewide Pennsylvania average office sale price during the same time period was $124.26 per square foot.

2023 Office Sales Volume

  • Harrisburg, PA Total Office Sales Volume in 2023 $27.4M
  • Harrisburg, PA Total Number of Office Sales Closed in 2023 5
A total of 5 deals closed on the Harrisburg office market in 2023, adding up to a yearly sales volume of $27.4M. Notably, the largest transaction on the market saw 1854 Brookwood Street change hands for $11,000,000 on 5/3/2023.
Data provided by Commercial Edge

Coworking Spaces in Pennsylvania

2023 Office Construction in Harrisburg, PA

Largest Office Properties Recently Completed in Harrisburg
Office building Address SF Completed
Campus Square 1426 N. 3rd Street, 17102 70,000 2008
479 Port View Drive 479 Port View Drive, 17111 14,664 2008
479 Port View Drive 479 Port View Drive, 17111 14,664 2008
2850 Commerce Drive 2850 Commerce Drive, 17110 17,000 2006
Market Square Plaza 17 North 2nd Street, 17101 172,629 2005
1000 Briarsdale 1000 Briarsdale, 17109 4,092 2005
4812 Jonestown Road 4812 Jonestown , 17112 1,012 2004
4812 Jonestown Road 4812 Jonestown , 17112 1,012 2004
3621 N Front St 3621 N Front St, 17110 3,750 2003
Crums Mill Corporate Center - 4250 Crums Mill Road 4250 Crums Mill Road, 17112 73,900 2001

Worth noting among recent office completions on the Harrisburg market is Campus Square, which is currently the largest new office development in the city, at 70,000 square feet.

Data provided by Commercial Edge

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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 Harrisburg 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.