2023 Office Space Rent & Sales
- $21.74 2023 Avg. Asking Rent
- 0.03% Y-o-Y Avg. Asking Rent Change
- 73.60% 2023 Office Vacancy Rate
Orem office price per square foot in 2023 was $21.74 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 73.60% across all asset classes combined.
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
Orem, UT Office Asking Rents by Class
Office Spaces for Rent in Utah
Coworking Spaces in Utah
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2023 Office Construction in Orem, UT
| Office building | Address | SF | Completed |
|---|---|---|---|
| 504 W 800 N | 504 W 800 N, 84057 | 5,357 | 2006 |
| Pinehurst Office Park | 562 West 800 North, 84057 | 108,000 | 2004 |
| The Summit at Canyon Park | 500 Timpanogos Parkway, 84097 | 24,606 | 1998 |
| Bristol Park 1 | 943-949 S. Orem Blvd, 84058 | 1,920 | 1998 |
| Turnberry Office Park | 183-226 E. 800-860 S., 84058 | 39,120 | 1996 |
| Canyon Park Technology Center - Q | 1203 North Research Way, 84097 | 163,060 | 1993 |
| Canyon Park Technology Center - K | 1301 North Research Way, 84097 | 92,149 | 1993 |
| Canyon Park Technology Center - G & H | 505 Timpanogos Circle, 84097 | 170,524 | 1989 |
| Canyon Park Technology Center - D, E, & F | 1593 North Technology Way, 84097 | 120,206 | 1989 |
| Canyon Park Technology Center - J | 1401 North Research Way, 84097 | 57,543 | 1989 |
Worth noting among recent office completions on the Orem market is 504 W 800 N, which is currently the largest new office development in the city, at 5,357 square feet.
See reports for other markets
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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 Orem 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.