Richardson Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $25.53 2023 Avg. Asking Rent
  • 19.32% 2023 Office Vacancy Rate

Richardson office price per square foot in 2023 was $25.53 on average. The local office market recorded an average vacancy rate of 19.32% 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

  • Richardson Class A & A+ Office Space$28.61
  • Richardson Class B Office Space$24.69
  • Richardson Class C Office Space$19.53
  • Texas Class A & A+ Office Space$36.17
  • Texas Class B Office Space$24.95
  • Texas Class C Office Space$31.07

Richardson, TX Office Asking Rents by Class

Average office rent in Richardson rested at $25.53 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 Richardson averaged $28.61 per square foot. Across all submarkets, class B office space recorded an average asking rent of $24.69 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $19.53 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.

2023 Office Vacancy Rates in Richardson

Submarket Asking Rents Vacancy Rates
Plano $26.46 16.77%
North Dallas $25.91 23.39%
Telecom Corridor $22.26 16.78%
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 Richardson market was 19.32% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Richardson was 16.77% in the Plano submarket, while the highest office vacancy in the market was 23.39%, recorded in North Dallas.

Office Spaces for Rent in Texas

Coworking Spaces in Texas

2023 Office Construction in Richardson, TX

Largest Office Properties Recently Completed in Richardson
Office building Address SF Completed
Campbell Medical Park 1080 W Campbell Rd, 75080 2,863 2014
190 Office Center - 1311 West President George Bush Hwy 1311 West President George Bush Hwy, 75080 153,724 2007
The Shops at Eastside 720 East Campbell Road, 75081 62,342 2007
Renner Professional Plaza 3200 Talon Drive, 75082 65,257 2005
Technology Business Campus 3501 Token Dr, 75082 11,873 2005
Galatyn Commons D 1011 Galatyn Pky, 75082 302,100 2001
Creekview Corporate Center II 1300 East Lookout Drive, 75082 159,812 2001
190 Office Center - 1301 West President George Bush Hwy 1301 West President George Bush Hwy, 75080 153,714 2001
Galatyn Commons - Building D 1011 Galatyn Pkwy, 75082 302,100 2000
Tower 2600 2600 North Central Expwy, 75080 229,307 1999

Worth noting among recent office completions on the Richardson market is Campbell Medical Park, which is currently the largest new office development in the city, at 2,863 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 Richardson 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.