2023 Office Space Rent & Sales
- $18.88 2023 Avg. Asking Rent
- 23.09% 2023 Office Vacancy Rate
Kalamazoo office price per square foot in 2023 was $18.88 on average. The local office market recorded an average vacancy rate of 23.09% 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
- Michigan Class A & A+ Office Space$22.86
- Michigan Class B Office Space$21.46
- Michigan Class C Office Space$21.50
Kalamazoo, MI Office Asking Rents by Class
2023 Office Vacancy Rates in Kalamazoo
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Portage | $19.00 | 1.01% |
| Kalamazoo | $18.88 | 32.02% |
Office Spaces for Rent in Michigan
Coworking Spaces in Michigan
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2023 Office Construction in Kalamazoo, MI
| Office building | Address | SF | Completed |
|---|---|---|---|
| The Exchange | 151 SW Michigan Avenue, 49002 | 345,000 | 2019 |
| 510 E Butler Ct | 510 E Butler Ct, 49007 | 8,475 | 2014 |
| 4664 Campus Drive | 4664 Campus Drive, 49008 | 150,000 | 2003 |
| The Globe Building | 211 East Water Street, 49007 | 50,042 | 1999 |
| Arcadia North | 245 North Rose Street, 49007 | 55,555 | 1992 |
| 5401 Portage Rd | 5401 Portage Rd, 49002 | 33,863 | 1991 |
| Airview Center | 2725 Airview Boulevard, 49002 | 36,187 | 1990 |
| The Atrium's | 4341 S Westnedge Avenue, 49008 | 72,000 | 1985 |
| 4230 S Westnedge Ave | 4230 S Westnedge Ave, 49008 | 5,732 | 1982 |
| 1141 S Rose St Unit 7 | 1141 S Rose St Unit 7, 49001 | 1,344 | 1965 |
Worth noting among recent office completions on the Kalamazoo market is The Exchange, which is currently the largest new office development in the city, at 345,000 square feet.
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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 Kalamazoo 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.