Archive for July, 2024

United States Commercial Property Prices Per Square Foot in 2024

July 8th, 2024

Three colleagues gather in an office to confer on the changing prices of commercial property in the USA. A businessman is seated on a chair on his laptop and a businesswoman is sitting on the desk, while their female colleague stands in front of them holding a clipboard and pointing at a graph on a whiteboard stand. Image at Offices.net.

The United States is home to one of the world’s largest commercial real estate markets, accounting for nearly 40% of all real estate globally. The latest data from 2024 show that this market generates revenues in excess of $1 trillion, and 16 of the world’s 30 most competitive commercial property markets are located in the United States.

Early 2024 data show that the average asking price per square foot for US offices stands at $37. Retail averages out to $23 per square foot, and industrial space comes in at just under $8 per square foot. However, there are significant variations in average prices based on location and real estate class.

Here’s a summary of the average commercial property rates in key USA cities:

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Tags: Business Advice, commercial property, Commercial Real Estate, Office Market Trends, Office Rental, Office Space Trends and Forecasts, Office Talk, prices, statistics
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