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Wilmington Market Reports

Wilmington Office Market

Average Asking Rent (Price/SF) $26.96
Vacancy Rate (%) 16.5%
Net Absorption (SF)  400,879

In mid-March 2020, the global COVID-19 pandemic plunged the Wilmington region (along with the entire country) into not just a health crisis - but an economic crisis as well. The first quarter of 2020 began strongly with the Wilmington office market tallying its largest quarterly absorption in more than a decade, over 400,000 square feet, and there were numerous new leases and announcements of development projects. In a best-case scenario, the robust market conditions noted in the first-quarter 2020 will return when the virus has been contained and businesses re-open.

Wilmington Office Market Report
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