Chantilly Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $24.86 2024 Avg. Asking Rent
  • 4.59% Y-o-Y Avg. Asking Rent Change
  • 17.39% 2024 Office Vacancy Rate
  • $116.6M2024 Total Office Sales
  • $150.53Avg. Sale Price/SF

Chantilly office price per square foot in 2024 was $24.86 on average. This marked a +4.59% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 17.39% across all asset classes combined. The 6 transactions that closed here throughout 2024 amounted to a total sale volume of $116.6M. Chantilly office space commanded an average sale price per square foot of $150.53.

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

  • Virginia Class A & A+ Office Space$35.61
  • Virginia Class B Office Space$25.93
  • Virginia Class C Office Space$20.32

Chantilly, VA Office Asking Rents by Class

2024 Office Vacancy Rates in Chantilly

Submarket Asking Rents Vacancy Rates
Rt 28 Corridor South $26.23 17.25%
Rt 28 Corridor North $14.14 3.32%
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 Chantilly market was 17.39% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Chantilly was 3.32% in the Rt 28 Corridor North submarket, while the highest office vacancy in the market was 17.25%, recorded in Rt 28 Corridor South.

Office Spaces for Rent in Virginia

Chantilly Office Sale Price per SF

  • $150.532024 Avg. Price per SF
  • 2.31%Y-o-Y Avg. PpSF Change
  • $116.6M2024 Office Sales Volume
  • 62024 Number of Transactions

Chantilly, VA Sale Price per SF Trend

  • Chantilly Avg. Sale Price per SF in 2024$150.53
  • Virginia Avg. Sale Price per SF in 2024$170.19
Chantilly office space cost in 2024 marked a +2.31% change compared to the previous year. The sale price for office space in Chantilly averaged $150.53 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Virginia average office sale price during the same time period was $170.19 per square foot.

2024 Office Sales Volume

  • Chantilly, VA Total Office Sales Volume in 2024 $116.6M
  • Chantilly, VA Total Number of Office Sales Closed in 2024 6
A total of 6 deals closed on the Chantilly office market in 2024, adding up to a yearly sales volume of $116.6M. Notably, the largest transaction on the market saw 14225 Newbrook Drive change hands for $80,500,000 on 10/16/2024.
Data provided by Commercial Edge

Coworking Spaces in Virginia

2024 Office Construction in Chantilly, VA

Largest Office Properties Recently Completed in Chantilly
Office building Address SF Completed
Penrose Center III 14399 Penrose Pl, 20151 104,575 2013
14566 Lee Road 14566 Lee Road, 20151 70,000 2010
Northridge at Westfields 15002 Northridge Drive, 20151 99,464 2007
14526 Lee Road 14526 Lee Road, 20151 31,242 2006
14137 Robert Paris Ct 14137 Robert Paris Court, 20151 1,450 2006
14131 Robert Paris Ct 14131 Robert Paris Court, 20151 1,325 2006
4803 Stonecroft Boulevard 4803 Stonecroft Boulevard, 20151 81,231 2005
Avion Business Park - Lakeside II 3975 Virginia Mallory Drive, 20151 130,265 2004
Albemarle Point Place 14420 Albemarle Point Place, 20151 296,360 2001
Avion Business Park - Lakeside I 14685 Avion Pkwy, 20151 167,699 2000

Worth noting among recent office completions on the Chantilly market is Penrose Center III, which is currently the largest new office development in the city, at 104,575 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 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 Chantilly 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.