Lewisville Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $24.93 2023 Avg. Asking Rent
  • 0.97% Y-o-Y Avg. Asking Rent Change
  • 15.17% 2023 Office Vacancy Rate

Lewisville office price per square foot in 2023 was $24.93 on average. This marked a +0.97% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 15.17% 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

Lewisville, TX Office Asking Rents by Class

2023 Office Vacancy Rates in Lewisville

Submarket Asking Rents Vacancy Rates
Platinum Corridor North $37.60 24.60%
Denton $29.84 9.52%
Lewisville $21.83 16.18%
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 Lewisville market was 15.17% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Lewisville was 9.52% in the Denton submarket, while the highest office vacancy in the market was 24.60%, recorded in Platinum Corridor North.

Office Spaces for Rent in Texas

Coworking Spaces in Texas

2023 Office Construction in Lewisville, TX

  • Lewisville, TX Total SF completed in 2023 72,333
  • Lewisville, TX Total SF under construction in 2024 207,500

During 2023, 72,333 square feet of new office space were delivered across the market. At the close of 2023, the Lewisville office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 72,333 square feet of office space. Looking forward, development activity throughout 2024 is estimated to add 207,500 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Lewisville
Office building Address SF Completed
113 Barnett Boulevard 113 Barnett Boulevard, 75077 10,000 2024
Rockbrook Office Park 2785 Rockbrook Dr Ste 303, 75067 1,147 2016
2702 Lake Vista Dr 2702 Lake Vista Dr, 75067 10,838 2014
Medical | Wellness Retail 897 North MacArthur Boulevard, 75019 9,207 2009
Lake Vista 7 2777 Lake Vista Drive, 75067 240,000 2008
2871 Lake Vista Dr 2871 Lake Vista Dr, 75067 37,720 2008
Vista Point South - Buildings 4-6 621 State Highway 121, 75019 113,916 2006
571 W Main St 571 W Main St, 75057 21,113 2002
Waters Ridge Tech Center II & III 1825 Lakeway Drive, 75057 108,634 2001
Oakbend Centre 417 Oakbend Drive, 75067 35,477 2000

Worth noting among recent office completions on the Lewisville market is 113 Barnett Boulevard, which is currently the largest new office development in the city, at 10,000 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 Lewisville 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.