Providence Office Market Report
By PropZone Research · Data through Q4 2023 · Aggregated from Colliers, Cushman & Wakefield
Quarterly office market indicators for Providence, aggregated by PropZone from Colliers, Cushman & Wakefield. As of Q4 2023, average asking rent was $34.30/SF.
Projected current office pricing — Providence
indicative confidenceModeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Providence office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q4 2023 asking-rent data (benchmark cap rate 6.6%–8.6%, asking rent held flat). Assumes ~63% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q4 2023 | $34.30/SF | — | 1.0M SF | — | Colliers |
| Q4 2023 | — | 37.0% | 0K SF | — | Cushman & Wakefield |
| Q4 2019 | $11.40/SF | 3.6% | 2K SF | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for office space in Providence?
- As of Q4 2023, the average asking rent for office space in Providence was $34.30/SF, per Colliers.
- What is the office vacancy rate in Providence?
- Vacancy data for Providence office is aggregated from brokerage reports; refer to the quarterly table for available quarters.
- Where does PropZone's Providence market data come from?
- This report aggregates quarterly office market data for Providence from Colliers, Cushman & Wakefield.