Lancaster Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $17.95 2023 Avg. Asking Rent
  • 12.67% 2023 Office Vacancy Rate

Lancaster office price per square foot in 2023 was $17.95 on average. The local office market recorded an average vacancy rate of 12.67% 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

  • Pennsylvania Class A & A+ Office Space$32.78
  • Pennsylvania Class B Office Space$24.45
  • Pennsylvania Class C Office Space$29.06

Lancaster, PA Office Asking Rents by Class

2023 Office Vacancy Rates in Lancaster

Submarket Asking Rents Vacancy Rates
West and East Lampeter $19.00 14.04%
Lancaster $17.50 11.80%
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 Lancaster market was 12.67% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Lancaster was 11.80% in the Lancaster submarket, while the highest office vacancy in the market was 14.04%, recorded in West and East Lampeter.

Office Spaces for Rent in Pennsylvania

Coworking Spaces in Pennsylvania

2023 Office Construction in Lancaster, PA

  • Lancaster, PA Total SF under construction in 2024 34,000
Largest Office Properties Recently Completed in Lancaster
Office building Address SF Completed
Lancaster Stockyard - 1280 North Plum Street & 1310 Marshall Avenue 1280 North Plum Street, 17601 56,500 2010
120 North Pointe Blvd 120 North Pointe Blvd, 17601 31,180 2000
3020 Columbia Avenue 3020 Columbia Avenue, 17603 39,610 1997
2124 Ambassador 2124 Ambassador, 17603 15,277 1994
1770 Hempstead Road 1770 Hempstead Road, 17601 23,938 1990
1869 Charter Lane 1869 Charter Lane, 17601 38,629 1989
160 North Pointe Boulevard 160 North Pointe Boulevard, 17601 34,528 1989
1850 William Penn Way 1850 William Penn Way, 17601 25,211 1989
1809 Olde Homestead Lane 1809 Olde Homestead Lane, 17601 26,866 1988
805 Estelle Drive 805 Estelle Drive, 17601 30,697 1987

Worth noting among recent office completions on the Lancaster market is Lancaster Stockyard - 1280 North Plum Street & 1310 Marshall Avenue, which is currently the largest new office development in the city, at 56,500 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 Lancaster 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.