Average Rent for Office Space in Richmond, VA
Rents for offices in Richmond range between $12 and $27.43 per square foot, with the market-wide average currently at $19.86 per square foot according to the latest listing data.
Learn More About Office Spaces for Rent in Richmond, VA
The Richmond, VA market currently features 451 distinct office spaces available for lease, totaling approximately 3.3 million square feet.
Local inventory includes subtypes such as General Office with 236 listings, as well as other property types such as Medical Office and Creative Office.
Available office spaces range from 157 square feet to 240,000 square feet, with an average size of 7,404 square feet, accommodating businesses across various growth stages and operational requirements.
Range
Total Square Feet
Share of Total Office
25k to 50k Sq. Ft.
3,270,074
13.36%
50k to 100k Sq. Ft.
4,609,378
18.83%
100k to 500k Sq. Ft.
13,475,751
55.05%
500k to 1M Sq. Ft.
2,062,653
8.43%
> 1M Sq. Ft.
1,060,950
4.33%
Of the office inventory in Richmond, 51 properties were constructed since 2000, typically offering up-to-date amenities.
An additional 107 buildings were developed between 1975 and 2000, while the remaining 68 date prior to 1975.
Richmond, VA Office Market Breakdown
The office market in Richmond, VA comprises 252 buildings totaling 24.5 million square feet.
Class A and A+ properties make up 50.64% of the office market in Richmond, while Class B properties total 40.38% of the market and Class C properties take up the remaining 8.97%.
Range
Total Square Feet
Share of Total Office
Class A
13,327,977
54.45%
Class B
10,208,299
41.7%
Class C
942,530
3.85%
The market offers substantial flexibility in space configuration, with spaces reaching up to 240,000 square feet and an average square footage of 7,404 across all spaces located here.
Best Neighborhoods for Office Space in Richmond, VA
Richmond’s neighborhood with the most office spaces is Rock Creek Park, offering 55 listings currently available.
The neighborhoods with the next largest offerings include Central Office with 50 listings, as well as Glen Forest, which offers a total of 43 listings.
Neighborhood
No. of Listings
Total Sq. Ft.
Rock Creek Park
55
432,808
Central Office
50
389,009
Glen Forest
43
213,810
Westwood
29
80,704
Shockoe Slip
18
105,080
2008 Libbie Ave, Westwood, Henrico, VA
5899 Bremo Road, Westwood, Richmond, VA