Eugene Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $19.14 2023 Avg. Asking Rent
  • -3.32% Y-o-Y Avg. Asking Rent Change
  • 10.26% 2023 Office Vacancy Rate
  • $22.8M2023 Total Office Sales
  • $256.23Avg. Sale Price/SF

Eugene office price per square foot in 2023 was $19.14 on average. This marked a -3.32% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 10.26% across all asset classes combined. The 3 transactions that closed here throughout 2023 amounted to a total sale volume of $22.8M. Eugene office space commanded an average sale price per square foot of $256.23.

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

  • Oregon Class A & A+ Office Space$35.37
  • Oregon Class B Office Space$23.28
  • Oregon Class C Office Space$26.43

Eugene, OR Office Asking Rents by Class

2023 Office Vacancy Rates in Eugene

Submarket Asking Rents Vacancy Rates
Eugene - North $22.37 8.40%
Eugene - Central $17.66 6.56%
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 Eugene market was 10.26% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Eugene was 6.56% in the Eugene - Central submarket, while the highest office vacancy in the market was 8.40%, recorded in Eugene - North.

Office Spaces for Rent in Oregon

Eugene Office Sale Price per SF

  • $256.232023 Avg. Price per SF
  • $22.8M2023 Office Sales Volume
  • 32023 Number of Transactions

Eugene, OR Sale Price per SF Trend

  • Eugene Avg. Sale Price per SF in 2023$256.23
  • Oregon Avg. Sale Price per SF in 2023$183.33
The sale price for office space in Eugene averaged $256.23 per square foot in 2023, across all market subdivisions and asset classes. Conversely, the statewide Oregon average office sale price during the same time period was $183.33 per square foot.

2023 Office Sales Volume

  • Eugene, OR Total Office Sales Volume in 2023 $22.8M
  • Eugene, OR Total Number of Office Sales Closed in 2023 3
A total of 3 deals closed on the Eugene office market in 2023, adding up to a yearly sales volume of $22.8M. Notably, the largest transaction on the market saw 1400 Valley River Drive change hands for $9,900,000 on 4/26/2023.
Data provided by Commercial Edge

Coworking Spaces in Oregon

2023 Office Construction in Eugene, OR

Largest Office Properties Recently Completed in Eugene
Office building Address SF Completed
1400 Valley River Drive 1400 Valley River Drive, 97401 25,444 2017
The Woolworth 940 Willamette Street, 97401 40,000 2012
Chase Gardens Medical Center North 330 South Garden Way, 97401 91,392 2008
Chase Gardens Medical Center South 360 South Garden Way, 97401 54,416 2006
10th & Mill Building 360 East 10th Avenue, 97401 57,774 2002
3125 Chad Drive 3125 Chad Drive, 97408 63,000 2000
Oakway Center - 497 Oakway Road 497 Oakway Road, 97401 43,486 1999
4710 Village Plaza Loop 4710 Village Plaza Loop, 97401 27,230 1999
Riverfront Research Park - 1800 & 1850 Millrace Drive 1800 Millrace Drive, 97403 47,000 1998
920 Country Club Road 920 Country Club Road, 97401 35,642 1998

Worth noting among recent office completions on the Eugene market is 1400 Valley River Drive, which is currently the largest new office development in the city, at 25,444 square feet.

Data provided by Commercial Edge

See reports for other markets

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 Eugene 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.