2023 Office Space Rent & Sales
- $20.86 2023 Avg. Asking Rent
- -4.06% Y-o-Y Avg. Asking Rent Change
- 14.88% 2023 Office Vacancy Rate
Kansas City office price per square foot in 2023 was $20.86 on average. This marked a -4.06% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 14.88% 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 City Class A & A+ Office Space$22.86
- Kansas City Class B Office Space$19.56
- Kansas City Class C Office Space$20.00
- Missouri Class A & A+ Office Space$24.89
- Missouri Class B Office Space$20.58
- Missouri Class C Office Space$22.78
Kansas City, MO Office Asking Rents by Class
Average office rent in Kansas City rested at $20.86 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 Kansas City averaged $22.86 per square foot. Across all submarkets, class B office space recorded an average asking rent of $19.56 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $20.00 per square foot, on average. Comparably, statewide Missouri average office rents by class in 2023 were: $24.89 per square foot for class A office space; $20.58 per square foot for class B office space; $22.78 per square foot for class C office space.
2023 Office Vacancy Rates in Kansas City
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Country Club Plaza | $24.83 | 7.63% |
| Crown Center | $23.00 | 33.22% |
| Crossroads | $22.00 | 11.76% |
| South Kansas City MO | $21.96 | 13.79% |
| Ward Parkway | $21.24 | 10.10% |
| Midtown - Westport | $20.32 | 3.86% |
| Northeast Kansas City MO | $19.98 | 13.37% |
| North Kansas City MO | $18.05 | 10.90% |
| East Side | $18.00 | 16.26% |
| Kansas City International Airport | $17.23 | 12.98% |
Office Spaces for Rent in Missouri
Coworking Spaces in Missouri
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2023 Office Construction in Kansas City, MO
| Office building | Address | SF | Completed |
|---|---|---|---|
| 46 Penn Centre | 4622 Pennsylvania Avenue, 64112 | 231,000 | 2020 |
| 1950 Diamond Pkwy | 1950 Diamond Pkwy, 64116 | 44,530 | 2019 |
| Corrigan Station | 1828 Walnut Street, 64108 | 122,000 | 2016 |
| Northland Innovation Campus | 6889 North Oak Trfy, 64118 | 90,000 | 2016 |
| Kansas City Board of Trade Building | 4800 Main Street, 64112 | 165,714 | 2015 |
| Freightquote Headquarters | 901 W Carondelet Dr, 64114 | 208,000 | 2013 |
| Offices at the Denton | 5901 NW 63rd Terrace, 64151 | 5,994 | 2013 |
| Briarcliff - Hilltop Office Building | 1251 NW Briarcliff Pkwy, 64116 | 221,000 | 2008 |
| Briarcliff Village | 4151-4175 N Mulberry Dr, 64116 | 55,000 | 2006 |
| Burlington Creek Office (VBCO) | 6300 N Revere Drive, 64151 | 2,745 | 2006 |
Worth noting among recent office completions on the Kansas City market is 46 Penn Centre, which is currently the largest new office development in the city, at 231,000 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 Kansas City 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.