Providence Office Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from Cushman & Wakefield, Colliers
Quarterly office market indicators for Providence, aggregated by CREhunt from Cushman & Wakefield, Colliers. As of Q1 2026, average asking rent was $22.79/SF/yr and vacancy was 12.8%, per Cushman & Wakefield.
Projected current office pricing — Providence
Modeled 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 Q1 2026 Cushman & Wakefield asking-rent data (benchmark cap rate 6.5%–8.6%, asking rent trend-adjusted to today). Assumes ~87% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 Cushman & Wakefield | $22.79/SF/yr | 12.8% | -66K SF | — | Cushman & Wakefield |
| Q4 2023 Colliers | $34.30/SF/yr | — | 1.0M SF | — | Colliers |
| Q4 2019 Cushman & Wakefield | $11.40/SF/yr | 3.6% | 2K SF | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for office space in Providence?
- As of Q1 2026, the average asking rent for office space in Providence was $22.79/SF/yr, per Cushman & Wakefield.
- What is the office vacancy rate in Providence?
- The office vacancy rate in Providence was 12.8% as of Q1 2026 (Cushman & Wakefield).
- Where does CREhunt's Providence market data come from?
- This report aggregates quarterly office market data for Providence from Cushman & Wakefield, Colliers.