Wichita Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $18.33 2023 Avg. Asking Rent
  • 11.58% 2023 Office Vacancy Rate

Wichita office price per square foot in 2023 was $18.33 on average. The local office market recorded an average vacancy rate of 11.58% 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

  • Kansas Class A & A+ Office Space$25.97
  • Kansas Class B Office Space$20.90
  • Kansas Class C Office Space$22.14

Wichita, KS Office Asking Rents by Class

2023 Office Vacancy Rates in Wichita

Submarket Asking Rents Vacancy Rates
Northeast $19.42 11.01%
Downtown $17.59 12.38%
Southeast $17.55 1.83%
West Sedgwick County $15.00 4.73%
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 Wichita market was 11.58% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Wichita was 1.83% in the Southeast submarket, while the highest office vacancy in the market was 12.38%, recorded in Downtown.

Office Spaces for Rent in Kansas

Coworking Spaces in Kansas

2023 Office Construction in Wichita, KS

  • Wichita, KS Total SF completed in 2023 37,000

During 2023, 37,000 square feet of new office space were delivered across the market. At the close of 2023, the Wichita office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 37,000 square feet of office space.

Largest Office Properties Recently Completed in Wichita
Office building Address SF Completed
494 North 127th Street East 494 North 127th Street East, 67206 10,648 2022
Spaghetti Works District 645 E Douglas Ave, Suite 1st Floor, 67202 64,649 2019
Webb at K-96 Medical Office Building Suites Available for Condo Sale or Lease 3161 N Webb Rd, 67226 20,000 2018
Webb at K-96 Medical Office Building Suites Available for Condo Sale or Lease 3161 N Webb Rd, 67226 20,000 2018
CLASS A MULTI TENANT BUILDING – NE WICHITA 9758 E. 21st St. N., 67206 31,800 2017
Class A Office Building 13207 W. 21st St., 67235 7,091 2017
FREESTANDING OFFICE-WAREHOUSE 633 N. Kessler, 67203 3,200 2015
The Offices at Cranbrook 10111 East 21st Street North, 67206 79,302 2013
TWO TENANT RETAIL & OFFICE BUILDING IN THE CBD 401-407 N. Waco Ave., 67202 4,000 2008
Ridgewood Medical Building 4013 N Ridge Rd, 67205 32,063 2006

Worth noting among recent office completions on the Wichita market is 494 North 127th Street East, which is currently the largest new office development in the city, at 10,648 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 Wichita 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.