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Wilmington Market Reports

Wilmington Office Market

Average Asking Rent (Price/SF) $26.05
Vacancy Rate (%) 16.3%
Net Absorption (SF)  62,915

The Wilmington office market's most significant story of 2019 was undoubtedly Bank of America's withdrawal from half a million square feet of space in the Central Business District (CBD) following the sale of its Bracebridge building complex in 2018 - leaving the CBD office inventory nearly a quarter vacant. This is certainly a challenge and threatens to overshadow the positive developments that occurred market-wide in 2019, many of which heightened the Wilmington office market profile on a super-regional and even national scale.

Wilmington Office Market Report
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