Commercial Real Estate Market Overview-New Orleans & Metairie MSA

New Orleans & Metairie MSA Prices Per Sector

Office Market

Office Market Overview-New Orleans & Metairie

Lease prices for office space in the New Orleans/Metairie Metropolitan Statistical Area averaged $17.78 per square foot, and sale prices averaged $137 per square foot. There are 1,045 office properties for sale or lease and, of those, 895 are for lease and 150 for sale. Last month 32 office spaces were leased, which is above the average of 25 monthly for the last 2 years. and 5 office properties were sold. The average office property is on the market for 327 days.

Industrial Market

Industrial Market Overview-New Orleans & Metairie

Of the 201 warehouses available for lease totaling 3.2 million square feet in the New Orleans/Metairie Metropolitan Statistical Area , 7 were leased averaging $6.98 per square foot, and of the 94 warehouses totaling 3.3 million square feet, 2 sold averaging $86 per square foot. There are 295 industrial properties for sale or lease totaling 6.5 million square feet. The average office property is on the market for 245 days.

Retail Market

Retail Market Overview-New Orleans & Metairie

Of the 600 retail spaces available totaling 3.7 million square feet in the New Orleans/Metairie Metropolitan Statistical Area , 448 totaling 2 million SF are for lease and 152 totaling 1.6 million SF are for sale. Last month, 15 were leased averaging $18.62 per square foot, and 2 sold averaging $98 per square foot. The average retail property is on the market for 308 days.

Shopping Center Market

 

Shopping Center Overview-New Orleans & Metairie

Of the 332 shopping center spaces available totaling 2.3 million square feet in the New Orleans/Metairie Metropolitan Statistical Area , 312 totaling 2.0 million SF are for lease and 20 totaling 338,000 SF are for sale. Last month, 3 were leased averaging $20.32 per square foot, and 1 sold averaging $139 per square foot. The average retail property is on the market for 177 days.


For more information on commercial real estate prices, read our previous articles: