Market Overview 2025
Providence (CBD) Office (plus plugs & lights basis)
| Area | Low | High | Vacancy |
|---|
| Class A | $30.00 | $45.00 | 12.0% |
| Class B | $20.00 | $25.00 | 14.0% |
| Class C | $14.00 | $18.00 | 15.0% |
Suburban Office (modified gross basis)
| Area | Low | High | Vacancy |
|---|
| Class A | $21.50 | $25.00 | 9.0% |
| Class B | $18.00 | $20.00 | 8.0% |
| Class C | $10.00 | $14.00 | 10.0% |
Industrial (non-mill space, NNN basis)
| Area | Low | High | Vacancy |
|---|
| Bulk Warehouse | $6.00 | $7.00 | 3.0 - 4.0% |
| General Purpose | $7.00 | $8.50 | 3.0 - 4.0% |
| Flex Space | $10.00 | $12.00 | 2.0 - 3.0% |
Retail (NNN basis)
| Area | Low | High | Vacancy |
|---|
| Downtown | $18.00 | $38.00 | 11.0% |
| Neighborhood Service Centers | $8.00 | $17.00 | 7.0% |
| Community Power Centers | $10.00 | $28.00 | 9.3% |
| Regional & Super Regional Malls | $20.00 | $50.00 | 7.7% |
Development Land
| Area | Low | High |
|---|
| Downtown Providence | $30/SF | $200/SF |
| Business Parks | $80k/ac | $150k/ac |
| Office/ Ind. - Non Park | $80k/ac | $200k/ac |
| Retail / Comm. | $100k/ac | $1.2M/ac |
Source: MG Commercial Real Estate Services
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