2024 Office Space Rent & Sales
- $31.67 2024 Avg. Asking Rent
- 30.24% 2024 Office Vacancy Rate
Alexandria office price per square foot in 2024 was $31.67 on average. The local office market recorded an average vacancy rate of 30.24% 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
2024 Average Office Rent per Square Foot
- Alexandria Class A & A+ Office Space$38.81
- Alexandria Class B Office Space$27.00
- Alexandria Class C Office Space$30.39
- Virginia Class A & A+ Office Space$35.61
- Virginia Class B Office Space$25.93
- Virginia Class C Office Space$20.32
Alexandria, VA Office Asking Rents by Class
Average office rent in Alexandria rested at $31.67 per square foot in 2024. 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 Alexandria averaged $38.81 per square foot. Across all submarkets, class B office space recorded an average asking rent of $27.00 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $30.39 per square foot, on average. Comparably, statewide Virginia average office rents by class in 2024 were: $35.61 per square foot for class A office space; $25.93 per square foot for class B office space; $20.32 per square foot for class C office space.
2024 Office Vacancy Rates in Alexandria
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
I-395 Corridor | $33.02 | 29.89% |
Alexandria | $32.95 | 14.05% |
Annandale | $30.51 | 22.44% |
Eisenhower Ave Corridor | $27.05 | 33.33% |
Springfield - Burke | $24.24 | 10.19% |
Coworking Spaces in Virginia
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2024 Office Construction in Alexandria, VA
- Alexandria, VA Total SF completed in 2024 93,000
- Alexandria, VA Total SF under construction in 2025 298,864
During 2024, 93,000 square feet of new office space were delivered across the market. At the close of 2024, the Alexandria office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 93,000 square feet of office space. Looking forward, development activity throughout 2025 is estimated to add 298,864 square feet of office space to the market, before year-end.
Office building | Address | SF | Completed |
---|---|---|---|
1701 Duke Street | 1701 Duke Street, 22314 | 113,786 | 2009 |
Carlyle Overlook | 2318 Mill Road, 22314 | 250,000 | 2008 |
Carlyle Overlook | 2318 Mill Rd, 22314 | 262 | 2008 |
Eisenhower Center III | 2331 Mill Road, 22314 | 90,955 | 2007 |
124 South West Street | 124 South West Street, 22314 | 31,960 | 2006 |
Randolph Bldg | 401 Dulany St, 22314 | 386,606 | 2004 |
Remsen Bldg | 400 Dulany St, 22314 | 393,380 | 2003 |
Crescent at Carlyle - 1940 Duke Street | 1940 Duke Street, 22314 | 216,577 | 2003 |
5270 Shawnee Road | 5270 Shawnee Road, 22312 | 37,500 | 2002 |
330 John Carlyle Street | 330 John Carlyle Street, 22314 | 64,561 | 2001 |
Worth noting among recent office completions on the Alexandria market is 1701 Duke Street, which is currently the largest new office development in the city, at 113,786 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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Alexandria 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.