Greenfield Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $23.51 2023 Avg. Asking Rent
  • -1.88% Y-o-Y Avg. Asking Rent Change
  • 18.81% 2023 Office Vacancy Rate

Greenfield office price per square foot in 2023 was $23.51 on average. This marked a -1.88% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 18.81% 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

  • Wisconsin Class A & A+ Office Space$26.13
  • Wisconsin Class B Office Space$20.38
  • Wisconsin Class C Office Space$22.14

Greenfield, WI Office Asking Rents by Class

2023 Office Vacancy Rates in Greenfield

Submarket Asking Rents Vacancy Rates
Milwaukee South $24.44 18.70%
Greenfield - Franklin $18.86 10.91%
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 Greenfield market was 18.81% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Greenfield was 10.91% in the Greenfield - Franklin submarket, while the highest office vacancy in the market was 18.70%, recorded in Milwaukee South.

Office Spaces for Rent in Wisconsin

Coworking Spaces in Wisconsin

2023 Office Construction in Greenfield, WI

Largest Office Properties Recently Completed in Greenfield
Office building Address SF Completed
Loomis Crossing 4300 West Layton Avenue, 53220 40,288 2024
4600 West Loomis Road 4600 West Loomis Road, 53220 65,000 2007
Lakeshore Medical Clinic - Greenfield 4131 West Loomis Road, 53221 67,100 2006
10521 W Layton Ave 10521 W Layton Ave, 53228 16,000 2006
Edgewood Plaza 4811 S 76th St, 53220 56,769 1981

Worth noting among recent office completions on the Greenfield market is Loomis Crossing, which is currently the largest new office development in the city, at 40,288 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 Greenfield 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.