Longmont Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $22.57 2023 Avg. Asking Rent
  • 14.26% 2023 Office Vacancy Rate
  • $112.2M2023 Total Office Sales
  • $189.82Avg. Sale Price/SF

Longmont office price per square foot in 2023 was $22.57 on average. The local office market recorded an average vacancy rate of 14.26% across all asset classes combined. The 3 transactions that closed here throughout 2023 amounted to a total sale volume of $112.2M. Longmont office space commanded an average sale price per square foot of $189.82.

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

  • Colorado Class A & A+ Office Space$36.72
  • Colorado Class B Office Space$24.52
  • Colorado Class C Office Space$30.48

Longmont, CO Office Asking Rents by Class

2023 Office Vacancy Rates in Longmont

Submarket Asking Rents Vacancy Rates
Greeley $24.28 44.46%
Longmont $22.25 14.15%
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 Longmont market was 14.26% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Longmont was 14.15% in the Longmont submarket, while the highest office vacancy in the market was 44.46%, recorded in Greeley.

Office Spaces for Rent in Colorado

Longmont Office Sale Price per SF

  • $189.822023 Avg. Price per SF
  • -11.72%Y-o-Y Avg. PpSF Change
  • $112.2M2023 Office Sales Volume
  • 32023 Number of Transactions

Longmont, CO Sale Price per SF Trend

  • Longmont Avg. Sale Price per SF in 2023$189.82
  • Colorado Avg. Sale Price per SF in 2023$243.00
Longmont office space cost in 2023 marked a -11.72% change compared to the previous year. The sale price for office space in Longmont averaged $189.82 per square foot in 2023, across all market subdivisions and asset classes. Conversely, the statewide Colorado average office sale price during the same time period was $243.00 per square foot.

2023 Office Sales Volume

  • Longmont, CO Total Office Sales Volume in 2023 $112.2M
  • Longmont, CO Total Number of Office Sales Closed in 2023 3
A total of 3 deals closed on the Longmont office market in 2023, adding up to a yearly sales volume of $112.2M. Notably, the largest transaction on the market saw 389 Disc Drive change hands for $99,500,000 on 6/27/2023.
Data provided by Commercial Edge

Coworking Spaces in Colorado

Largest Office Properties Recently Completed in Longmont
Office building Address SF Completed
Longmont Medical Campus 1551 Professional Lane, 80501 105,139 2001
389 Disc Drive 389 Disc Drive, 80503 519,448 2000
Fox Creek Marketplace 1610 Pace Street, 80504 25,273 2000
Creekside Business Park 1811 Pike Road, 80501 257,266 1999
1110 BOSTON AVENUE 1110 BOSTON AVENUE, 80501 11,680 1995
1375 Ken Pratt Blvd 1375 Ken Pratt Blvd, 80501 16,613 1993
The Rose Building 825 Delaware Avenue, 80501 33,833 1984
1601 Dry Creek Drive 1601 Dry Creek Drive, 80503 543,610 1982
2929 17th Ave 2929 17th Ave, 80503 6,175 1980
1240 Ken Pratt Blvd 1240 Ken Pratt Blvd, 80501 36,548 1979

Worth noting among recent office completions on the Longmont market is Longmont Medical Campus, which is currently the largest new office development in the city, at 105,139 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 Longmont 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.