Rochester Commercial Office Space for Rent

Q3 2026

Q3 2026 Rochester Commercial Real Estate Market Report

Focus: Q3 2026 Market Trends

Executive Summary

Rochester's suburban office vacancy fell to 15.3% in Q2 2026, its lowest since 2022, after four straight quarters of positive absorption, while about $625 million of downtown investment is announced or underway. Major manufacturing projects from fairlife, Oxbo, and McAlpin Industries continue to reshape the industrial market. Tenant demand on TenantBase shifted toward office in Q3: office space accounted for 57.1% of all Rochester tenant searches, up from 26.2% in Q2.

Sector Snapshot

  • Office: Suburbs improving. Overall vacancy was 19.9%, with suburban vacancy at 15.3%.
  • Industrial: Softening slightly. Vacancy rose to 7.2% as older space returned to market.
  • Retail: Stable. Vacancy was 6.3% at year-end 2025, with new big-box anchors arriving.
  • Multifamily: Rising rents. Average rent was $1,536, up 2.9% year over year.

Rochester Tenant Demand Index

The TenantBase Tenant Demand Index tracks what businesses across the Greater Rochester area are actively searching for on the TenantBase platform each quarter. Because it measures tenant intent before leases are signed, it shows where demand is heading ahead of traditional vacancy and absorption data.

Q3 2026 Search Share by Space Type (July 1 to September 30, 2026)

  • Office: 57.1%
  • Retail/Storefront: 42.9%
  • Warehouse/Industrial: 0.0%

Three-Quarter Trend

  • Office: 14.3% in Q1, 26.2% in Q2, 57.1% in Q3
  • Retail/Storefront: 73.5% in Q1, 61.9% in Q2, 42.9% in Q3
  • Warehouse/Industrial: 14.3% in Q1, 11.9% in Q2, 0.0% in Q3

Key Takeaways

  • Office demand rose for the third straight quarter, from 14.3% in Q1 to 57.1% in Q3, overtaking retail.
  • Office tenants want small, flexible space. Nearly all Q3 office searches sought terms under one year, averaging 500 to 1,000 SF.
  • Retail tenants favor 2 to 3 year leases, averaging 1,000 to 2,500 SF.
  • Location interest centers on the core and southeast suburbs. Downtown, Central Rochester, Brighton/Henrietta, the East side, Gates, and Irondequoit were the requested areas.

Office Market

Key Metrics (Q2 2026)

  • Vacancy: 19.9% overall, with the CBD at 29.2% and suburbs at 15.3% (Cushman & Wakefield / Pyramid Brokerage)
  • Net absorption: positive 63,017 SF in Q2 and 139,501 SF year to date (Cushman & Wakefield / Pyramid Brokerage)
  • Average asking rent: $17.50/SF, with Class A at $21.00/SF (Cushman & Wakefield / Pyramid Brokerage)
  • Submarkets: South-Central at 14.7% and South-East at 15.9% (Cushman & Wakefield / Pyramid Brokerage)

TenantBase Office Activity

Demand share: 57.1% of Rochester tenant searches, up from 26.2% in Q2 and 14.3% in Q1.

Lease terms and size: Nearly all Q3 office searches sought terms under one year, with the rest seeking 2 to 3 years. Requirements averaged 500 to 1,000 SF.

TenantBase data vs. the market: Small, flexible office users have strong options Downtown, where vacancy is 29.2% and asking rents average $17.00/SF. Brighton/Henrietta tenants searching the South-East and South-Central suburbs face tighter conditions near 15%.

Industrial & Warehouse Market

Key Metrics (Q2 2026)

  • Vacancy: 7.2%, up from 6.7% at year-end 2025 (Cushman & Wakefield / Pyramid Brokerage)
  • Average asking rent: $6.80/SF net, with warehouse/distribution at $7.25 (Cushman & Wakefield / Pyramid Brokerage)
  • By type: warehouse/distribution at 5.6%, manufacturing at 8.0%, and flex at 9.5% (Cushman & Wakefield / Pyramid Brokerage)

TenantBase Industrial Activity

Demand share: No industrial searches were recorded on TenantBase in Rochester in Q3, down from 11.9% in Q2.

TenantBase data vs. the market: Industrial tenants will find the most availability in flex and manufacturing space, while warehouse/distribution remains tighter at 5.6%.

Retail Market

Key Metrics (Year-End 2025)

  • Vacancy: 6.3% across 21.4 million SF, with Greece, Henrietta, and Victor as the key trade areas (CBRE)
  • New anchors: Bass Pro Outpost is planned for 90,000 SF at Eastview Mall, and Boscov's opened 175,000 SF at Greece Ridge (CBRE)

TenantBase Retail Activity

Demand share: 42.9% of Rochester tenant searches, down from 61.9% in Q2.

Lease terms and size: 2 to 3 year terms were the most requested, averaging 1,000 to 2,500 SF. Searches for 5+ year terms averaged 10,000 to 20,000 SF.

TenantBase data vs. the market: Retail tenants targeting Henrietta should expect competition as new anchors draw traffic to established trade areas.

Multifamily Market

Rochester average apartment rent was $1,536 as of September 2026, up 2.9% year over year, according to RentCafe.

Q4 2026 Outlook

  • Office: Expect continued suburban strength and downtown repositioning.
  • Industrial: Expect manufacturing investment to support long-term demand.
  • Retail: Expect new anchors to strengthen key trade areas.

Frequently Asked Questions

What type of commercial space are Rochester tenants searching for in 2026?

In Q3 2026, office space made up 57.1% of Rochester tenant searches on TenantBase and retail/storefront made up 42.9%. Office share rose from 26.2% in Q2.

What is the office vacancy rate in Rochester, NY?

Rochester office vacancy was 19.9% in Q2 2026, with suburban vacancy at 15.3%, according to Cushman & Wakefield / Pyramid Brokerage.

What is the industrial vacancy rate in Rochester, NY?

Rochester industrial vacancy was 7.2% in Q2 2026, according to Cushman & Wakefield / Pyramid Brokerage.

How can I find commercial space in Rochester at no cost?

TenantBase matches business tenants with vetted independent tenant rep brokers across Greater Rochester at no cost to the tenant. Brokers are compensated by the landlord. Get started with TenantBase.

Sources

  1. TenantBase proprietary search data, Rochester, July 1 to September 30, 2026
  2. TenantBase, Rochester Commercial Real Estate Market Report, Q2 2026
  3. TenantBase, Rochester Commercial Real Estate Market Report, Q1 2026
  4. Cushman & Wakefield / Pyramid Brokerage, Rochester Office MarketBeat, Q2 2026
  5. Cushman & Wakefield / Pyramid Brokerage, Rochester Industrial MarketBeat, Q2 2026
  6. CBRE Upstate NY, Rochester 2026 Market Outlook
  7. RentCafe, Rochester Average Rent, September 2026

Disclaimer

Information in this report is aggregated from third-party sources and TenantBase proprietary platform data, and was synthesized with the assistance of AI. Market metrics reflect the most recent published data available at the time of writing. TenantBase search data reflects tenant activity on the TenantBase platform and is not a measure of total market leasing. All figures should be independently verified before making real estate decisions.