Amarillo Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $15.70 2023 Avg. Asking Rent
  • 0.47% Y-o-Y Avg. Asking Rent Change
  • 10.21% 2023 Office Vacancy Rate

Amarillo office price per square foot in 2023 was $15.70 on average. This marked a +0.47% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 10.21% 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

  • Texas Class A & A+ Office Space$36.17
  • Texas Class B Office Space$24.95
  • Texas Class C Office Space$31.07

Amarillo, TX Office Asking Rents by Class

2023 Office Vacancy Rates in Amarillo

Submarket Asking Rents Vacancy Rates
Amarillo - Southwest $16.14 8.08%
Amarillo - Central $15.77 13.29%
Amarillo - Northwest $15.22 6.77%
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 Amarillo market was 10.21% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Amarillo was 6.77% in the Amarillo - Northwest submarket, while the highest office vacancy in the market was 13.29%, recorded in Amarillo - Central.

Office Spaces for Rent in Texas

Coworking Spaces in Texas

2023 Office Construction in Amarillo, TX

  • Amarillo, TX Total SF completed in 2023 54,750

During 2023, 54,750 square feet of new office space were delivered across the market. At the close of 2023, the Amarillo office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 54,750 square feet of office space.

Largest Office Properties Recently Completed in Amarillo
Office building Address SF Completed
1375 N. Western 1375 Western N, 79124 4,730 2024
7489 Pennsylvania Dr 7489 Pennsylvania Dr, 79119 1,556 2024
New Construction - Office For Lease 1916 S Carolina, 79102 8,528 2019
600 S Buchanan St 600 S Buchanan St, 79101 19,243 2016
600 S Buchanan St 600 S Buchanan St, 79101 19,243 2016
603 Quail Creek 603 Quail Creek, 79124 13,969 2011
7501 Wallace Boulevard 7501 Wallace Blvd, 79124 67,930 2007
Class "A" Multi-Use Office - 3 Care Circle 3 Care Cir, 79124 10,000 2006
6822 Plum Creek Drive 6822 Plum Creek Drive, 79124 5,741 2004
WHA Building 1301 South Coulter Street, 79106 81,180 2001

Worth noting among recent office completions on the Amarillo market is 1375 N. Western, which is currently the largest new office development in the city, at 4,730 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 Amarillo 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.