Find the Perfect Location for Your Business to Thrive
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Commercial Real Estate
Opportunities for growth await businesses of all sizes in the Greater Rochester, NY region’s affordable commercial real estate market. Take advantage of competitive lease rates, a diverse range of sites and buildings, and the region’s advanced infrastructure.
Photo credit: City of Rochester
Commercial Real Estate Statistics
Compared to other major metropolitan areas and against national averages, businesses benefit from the highly competitive Rochester commercial real estate market. The region’s outstanding infrastructure supports the diverse real estate available to service providers and manufacturers of all sizes.
|CLASSIFICATION||LOW RENTAL RATES||HIGH RENTAL RATES||EFFECTIVE AVG. RENTAL RATES||VACANCY RATE|
|Downtown Office Full-Service Rates|
|Class A (Prime)||$19.00||$26.00||$22.00||24.2%|
|Class B (Secondary)||$14.00||$18.00||$16.00||27.6%|
|Suburban Office Full-Service Rates|
|Class A (Prime)||$19.00||$25.00||$22.00||24.1%|
|Class B (Secondary)||$16.00||$21.00||$18.00||16.8%|
|Industrial Space Net (Triple Net) Rates|
*Aggregate Industrial Vacancy Rate
Source: Cushman Wakefield/Pyramid Brokerage Company Q4 2022
Recent Business Investments
See recent business investments in our region.
Prime Commercial Sites and Buildings at Significant Savings
Prime commercial sites and buildings are available in the 9-county Greater Rochester, NY region at rates well below the national average, and even more affordable than those of major metropolitan markets.
|ROCHESTER, NY MSA||U.S. AVERAGE||% SAVINGS IN ROCHESTER, NY MSA|
|Office (Gross Asking Rent)||$18.21||$35.38||49%|
|Office Vacancy Rate||18.0%||17.3%|
|Industrial (NNN Asking Rent)||$6.00||$9.63||38%|
|Industrial Vacancy Rent||5.1%||3.0%|
|ROCHESTER GROSS AVERAGE DIRECT ASKING RENTS (US$/SQ.FT./ANNUM)||U.S. GROSS AVERAGE DIRECT ASKING RENTS (US$/SQ.FT./ANNUM)||ROCHESTER VACANCY RATES||U.S. VACANCY RATES|
|MAJOR MARKET COMPARISONS||AVG. OFFICE LEASE RATES**||ROCHESTER, NY MSA*||% SAVINGS IN ROCHESTER, NY MSA|
|Dallas/Ft. Worth, TX||$31.48||$18.21||42%|
|Los Angeles, CA||$47.76||$18.21||62%|
|New York, NY||$77.24||$18.21||76%|
|Northern New Jersey||$30.82||$18.21||41%|
|San Francisco, NY||$79.06||$18.21||77%|
|MAJOR MARKET COMPARISONS||AVG. INDUSTRIAL ASKING RATES||ROCHESTER, NY MSA||% SAVINGS IN ROCHESTER, NY MSA|
|Ft. Lauderdale, FL||$14.15||$6.00||58%|
|Las Vegas, NV||$14.32||$6.00||58%|
|Los Angeles, CA||$19.68||$6.00||70%|
|Northern New Jersey||$16.55||$6.00||64%|
Why Companies are growing in the Greater Rochester, NY Region
You know your business.
We know Greater Rochester.
Let’s team up.
Thank You To Our Investors
Rochester has a great work base. They’re loyal. They’re smart. They’re well educated and they want to succeed.
Executive Chairman and CEO, Eastman Kodak
We keep and maintain and are investing specifically in Rochester because that is where the talent is. We don’t succeed without the right talent.
Vice President and General Manager, Corning Incorporated
Rochester has the manufacturing capability, testing capability, and intellectual horsepower.
Past Chairman, NY BEST
Rochester has a deep talent pool around all of the things that we need to do to commercialize advanced materials for the energy economy.
Co-Founder and Chief Strategy Officer, Ionomr
The decision to expand locally was a relatively easy one for CooperVision. The Rochester area has provided so many of the elements necessary for a successful operation.
The proximity to top colleges and industry-leading companies, in addition to the quality of life in Western New York, made the decision to open our second office in Rochester an easy one.
Director, Security Risk Advisors
Rochester is home to some of the finest optics companies in the nation, almost all of which OptiPro does business with.
We have a long history of people skilled in aerospace technology and precision optical assembly. We take advantage of the industrial base in the Rochester area. We also take advantage of the skill sets developed by our local technical institutions like MCC, RIT, or the University of Rochester.”
Cryogenic Optical Test Director for James Webb Space Telescope, L3 Harris
We have inherited an exceptional quality of life thanks to an impressive cluster of cultural organizations, unparalleled natural resources, and a resilient and welcoming spirit of community.
President, Rochester Insititute of Technology
Once people get here and their families get used to short commute times, low home prices, the fact we have all kinds of recreational sporting activities, the quality of schools, they don’t want to leave.
CEO and Chairman, Sweetwater Energy
Rochester has provided ID Signsystems with the ability to grow and develop by tapping into the region’s large pool of design-focused talent, technicians, engineers and sign makers.
President, ID Signsystems
Our network of local universities, colleges, and optics companies has created a workforce pipeline that is unmatched anywhere in the United States.
GRE’s direction and guidance proved to be well worth our investment. Their passion to make the business environment in the Rochester area greater is very apparent.
There is unlimited, untapped technical talent in the area and I hope we start a wave of other companies moving to Rochester.
Rochester has a long history of being a hub for telecommunications. There is a rich ecosystem of talent and services to support business growth.
Founder and CEO, Wire3
Rochester is the perfect size city to get business done. I’m always one connection away from anything I’m looking for.
President, Kink BMX
The work we’ve done and the momentum we’ve generated as a business has been possible in large part because of the talent, knowledge and industriousness of our people in Rochester, NY.
CEO, Brand Networks
We have access to talent graduating from our businesses and technical institutions capable of perpetuating our success for years to come.
President & CEO, Simcona Electronics
The Rochester region provided convenient access to both railroads and major highways, as well as proximity to Barilla’s customer base in the Northeast.
Vice President of Supply Chain, Barilla America
We’re excited about this area. There’s high-quality milk in the region. There’s a lot of top talent. The industry, the innovation, the technical experience , the work ethic is all attractive to us.
Vice President of Manufacturing, fairlife
The country is starting to recognize Rochester as a technical city outside of just software. We have optics and manufacturing that’s exceeding most of the baselines around the country.
Rochester has the resources optics companies need to transform their concepts into reality.
Dr. Duncan T. Moore
Vice Provost for Entrepreneurship and Professor of Optical Engineering
Rochester has a great base of intellectual capital in the science and technology fields at local businesses and universities.
Daniel J. Burns
Regional President, M&T Bank Corporation
We’ve developed vaccines to prevent cervical cancer right here in Rochester.
Vice President and COO, University of Rochester Medical Center
Among many great options, none could match Rochester in terms of talent, local supplier networks, and opportunities to partner with top-tier research institutions.
CEO, Plug Power