A quick glance over any U.S. office market overview could easily convince anyone that top tier office lease rates are almost unparalleled. Using data from CBRE and Cushman & Wakefield we’ve analyzed what prime office rents look like in the United States stacked up against the rest of the world. The list isn’t topped by Manhattan – which only comes up third, but by Hong Kong and Beijing with a whopping annual average of $269/sq. ft. and $174/sq. ft. respectively.

Main Highlights

Downtown Atlanta lands 19th nationally with an annual asking rate of $43/sq. ft. almost half the rate in Mumbai (84/sq. ft.) and Sydney ($83.9/sq. ft.); it stacks up nicely against the rest of the U.S., topping San Diego ($35/sq. ft.), Denver ($36/sq. ft.) and Dallas ($42/sq. ft.) to name a few;

Of the world’s 10 priciest cities for office space, only 3 are in the U.S. – Midtown Manhattan and San Jose, with the 10th spot occupied by Greenwich, CT, with an average of $91.55/sq. ft. in yearly office rents;

Central Hong Kong is the most expensive office destination in the world, the average annual rental rate is $269/sq. ft./year or $22/sq. ft./month, with office rates 55% higher than in Beijing and 75% above rates in Manhattan;

How much office space would a $10K budget get you around the world and in the U.S., including Atlanta? Find out here:

https://www.commercialcafe.com/blog/2018/01/25/us-office-rents-significantly-cheaper-compared-rest-world/