Centennial Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $24.17 2023 Avg. Asking Rent
  • 18.40% 2023 Office Vacancy Rate

Centennial office price per square foot in 2023 was $24.17 on average. The local office market recorded an average vacancy rate of 18.40% across all asset classes combined.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2023 Average Office Rent per Square Foot

  • Centennial Class A & A+ Office Space$30.68
  • Centennial Class B Office Space$22.99
  • Centennial Class C Office Space$18.89
  • Colorado Class A & A+ Office Space$36.72
  • Colorado Class B Office Space$24.52
  • Colorado Class C Office Space$30.48

Centennial, CO Office Asking Rents by Class

Average office rent in Centennial rested at $24.17 per square foot in 2023. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Centennial averaged $30.68 per square foot. Across all submarkets, class B office space recorded an average asking rent of $22.99 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $18.89 per square foot, on average. Comparably, statewide Colorado average office rents by class in 2023 were: $36.72 per square foot for class A office space; $24.52 per square foot for class B office space; $30.48 per square foot for class C office space.

2023 Office Vacancy Rates in Centennial

Submarket Asking Rents Vacancy Rates
Denver Tech Center $28.60 24.97%
Centennial $22.96 18.06%
Aurora $20.32 7.63%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Centennial market was 18.40% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Centennial was 7.63% in the Aurora submarket, while the highest office vacancy in the market was 24.97%, recorded in Denver Tech Center.

Office Spaces for Rent in Colorado

Coworking Spaces in Colorado

2023 Office Construction in Centennial, CO

Largest Office Properties Recently Completed in Centennial
Office building Address SF Completed
INOVA Dry Creek - Building 2 10825 East Geddes Avenue, 80112 222,083 2018
INOVA Dry Creek - Building 1 7250 South Havana Street, 80112 211,675 2017
6649 S Paris St 6649 S Paris St, 80111 7,560 2009
6590 S vine st 6590 s vine st, 80121 11,589 2007
7354 S Alton Way Ste 102 7354 S Alton Way Ste 102, 80112 1,685 2007
7343 S Alton Way 7343 South Alton Way, 80112 12,400 2002
10770 East Briarwood Avenue 10770 East Briarwood Avenue, 80112 207,332 2001
WaterPark at Briarwood 10731 East Easter Avenue, 80112 207,332 2001
10731 East Easter Avenue Building 4 10731 East Easter Avenue, 80112 29,400 2001
9055 E Mineral Cir 9055 E Mineral Cir, 80112 18,928 2001

Worth noting among recent office completions on the Centennial market is INOVA Dry Creek - Building 2, which is currently the largest new office development in the city, at 222,083 square feet.

Data provided by Commercial Edge

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Centennial commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.