2023 Office Space Rent & Sales
- $27.06 2023 Avg. Asking Rent
- 12.07% 2023 Office Vacancy Rate
Addison office price per square foot in 2023 was $27.06 on average. The local office market recorded an average vacancy rate of 12.07% 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
- Addison Class A & A+ Office Space$33.96
- Addison Class B Office Space$18.65
- Addison Class C Office Space$14.62
- Texas Class A & A+ Office Space$36.17
- Texas Class B Office Space$24.95
- Texas Class C Office Space$31.07
Addison, TX Office Asking Rents by Class
Average office rent in Addison rested at $27.06 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 Addison averaged $33.96 per square foot. Across all submarkets, class B office space recorded an average asking rent of $18.65 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $14.62 per square foot, on average. Comparably, statewide Texas average office rents by class in 2023 were: $36.17 per square foot for class A office space; $24.95 per square foot for class B office space; $31.07 per square foot for class C office space.
Office Spaces for Rent in Texas
Coworking Spaces in Texas
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- Chattanooga Coworking Space
2023 Office Construction in Addison, TX
| Office building | Address | SF | Completed |
|---|---|---|---|
| Methodist Addison | 17051 North Dallas Parkway, 75001 | 79,825 | 2013 |
| 15505 Wright Bros & 15504 Midway | 15505 Wright Brothers Drive, 75001 | 78,569 | 2010 |
| Two Addison Circle | 15725 Dallas Pkwy., 75001 | 198,686 | 2009 |
| 4301 Wiley Post Road | 4301 Wiley Post Road, 75001 | 79,944 | 2008 |
| Millennium Tower | 15455 Dallas Pky, 75001 | 357,102 | 1999 |
| Millennium Tower | 15455 Dallas Pkwy, 75001 | 357,102 | 1999 |
| 5040 Addison Circle | 5040 Addison Circle, 75001 | 51,663 | 1999 |
| Addison Circle One | 15601 Dallas Pky, 75001 | 293,787 | 1998 |
| Addison Circle One | 15601 Dallas Pkwy, 75001 | 293,787 | 1998 |
| Addison II | 4550 Excel Pkwy, 75001 | 181,600 | 1996 |
Worth noting among recent office completions on the Addison market is Methodist Addison, which is currently the largest new office development in the city, at 79,825 square feet.
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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 Addison 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.