Westminster Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $27.22 2023 Avg. Asking Rent
  • 2.06% Y-o-Y Avg. Asking Rent Change
  • 13.42% 2023 Office Vacancy Rate

Westminster office price per square foot in 2023 was $27.22 on average. This marked a +2.06% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 13.42% 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

  • Westminster Class A & A+ Office Space$27.97
  • Westminster Class B Office Space$24.90
  • Colorado Class A & A+ Office Space$36.72
  • Colorado Class B Office Space$24.52
  • Colorado Class C Office Space$30.48

Westminster, CO Office Asking Rents by Class

2023 Office Vacancy Rates in Westminster

Submarket Asking Rents Vacancy Rates
Denver Boulder Turnpike $29.64 16.85%
I-25 Corridor $27.20 12.16%
Arvada $21.08 12.82%
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 Westminster market was 13.42% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Westminster was 12.16% in the I-25 Corridor submarket, while the highest office vacancy in the market was 16.85%, recorded in Denver Boulder Turnpike.

Office Spaces for Rent in Colorado

Coworking Spaces in Colorado

2023 Office Construction in Westminster, CO

Largest Office Properties Recently Completed in Westminster
Office building Address SF Completed
12170 Tejon St #1000 12170 Tejon St, 80234 2,908 2018
Northridge at Park Center Bldg. A-Ph.II 1665 West 121st Avenue, 80234 41,900 2014
St. Anthony North Medical Office Building 8510 Bryant Street, 80031 60,372 2008
905 West 124th Avenue 905 West 124th Avenue, 80234 30,368 2007
Walnut Creek Business Park 10835 Dover Street, 80021 149,568 2002
Ten West at Westmoor Technology Park - Building 7 10955 Westmoor Drive, 80021 204,387 2001
Ten West at Westmoor Technology Park - Building 10 11000 Westmoor Circle, 80021 161,325 2001
Church Ranch Corporate Center 7237 Church Ranch Blvd, 80021 151,746 2001
Ten West at Westmoor Technology Park - Building 8 11400 Westmoor Circle, 80021 133,352 2001
Church Ranch Corporate Center IV 10170 Church Ranch Way, 80021 124,098 2001

Worth noting among recent office completions on the Westminster market is 12170 Tejon St #1000, which is currently the largest new office development in the city, at 2,908 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 Westminster 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.