2023 Office Space Rent & Sales
- $29.06 2023 Avg. Asking Rent
- -0.03% Y-o-Y Avg. Asking Rent Change
- 9.73% 2023 Office Vacancy Rate
Lehi office price per square foot in 2023 was $29.06 on average. This marked a -0.03% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 9.73% 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
- Utah Class A & A+ Office Space$28.50
- Utah Class B Office Space$23.99
- Utah Class C Office Space$25.92
Lehi, UT Office Asking Rents by Class
Office Spaces for Rent in Utah
Coworking Spaces in Utah
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2023 Office Construction in Lehi, UT
| Office building | Address | SF | Completed |
|---|---|---|---|
| Lehi Spectrum - Building 2 | 1550 West Digital Drive, 84043 | 125,000 | 2020 |
| Thanksgiving Station 2 | 1900 West Ashton Blvd, 84043 | 150,000 | 2019 |
| Lehi Tech Park | 300 South 1350 East, 84043 | 64,189 | 2019 |
| Lehi Tech Center 3rd Floor | 300 South 1350 East, 84043 | 15,446 | 2019 |
| Thanksgiving Station 5 | 2000 North Ashton Blvd, 84043 | 150,000 | 2018 |
| North Slope | 4100 North Chapel Ridge Road, 84043 | 146,512 | 2018 |
| Innovation Pointe I | 1633 W. Innovation Way, 84043 | 141,746 | 2018 |
| Lehi Spectrum - Building 1 | 1650 West Digital Drive, 84043 | 132,000 | 2018 |
| 4101 North Thanksgiving Way | 4101 North Thanksgiving Way, 84043 | 72,116 | 2018 |
| Lehi Station - 2901 North Ashton Blvd | 2901 North Ashton Blvd, 84043 | 139,088 | 2016 |
Worth noting among recent office completions on the Lehi market is Lehi Spectrum - Building 2, which is currently the largest new office development in the city, at 125,000 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 Lehi 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.