Market Research

Office Market Review

Q1 2022

During the course of 2021 rates bottomed out in Q1 last year, and then Grade A office rents grew by around 4.25%. Average gross effective rates for top Grade A buildings are around $10.23 per sq ft compared with $9.81 per sq ft the year before. The ultra-high-end properties are still commanding effective rates in excess of $11.00 per sq ft per month.