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% |
Office Spaces for Rent in Colorado
Coworking Spaces in Colorado
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2023 Office Construction in Centennial, CO
| 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 | 6,324 | 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 |
| WaterPark at Briarwood | 10731 East Easter Avenue, 80112 | 207,332 | 2001 |
| 10770 East Briarwood Avenue | 10770 East Briarwood 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 |
| 9055 East Mineral Circle | 9055 East Mineral Circle, 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.
See reports for other markets
- Denver Office Rent Price
- Colorado Springs Office Rent Price
- Boulder Office Rent Price
- Fort Collins Office Rent Price
- Greenwood Village Office Rent Price
- Englewood Office Rent Price
- Lakewood Office Rent Price
- Littleton Office Rent Price
- Golden Office Rent Price
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- Westminster Office Rent Price
- Phoenix Office Rent Price
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- Los Angeles Office Rent Price
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.