Lynnwood Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $32.95 2023 Avg. Asking Rent
  • 24.46% 2023 Office Vacancy Rate

Lynnwood office price per square foot in 2023 was $32.95 on average. The local office market recorded an average vacancy rate of 24.46% 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

  • Washington Class A & A+ Office Space$45.53
  • Washington Class B Office Space$31.05
  • Washington Class C Office Space$35.93

Lynnwood, WA Office Asking Rents by Class

2023 Office Vacancy Rates in Lynnwood

Submarket Asking Rents Vacancy Rates
Lynnwood $33.70 19.96%
Everett $23.61 11.94%
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 Lynnwood market was 24.46% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Lynnwood was 11.94% in the Everett submarket, while the highest office vacancy in the market was 19.96%, recorded in Lynnwood.

Office Spaces for Rent in Washington

Coworking Spaces in Washington

Largest Office Properties Recently Completed in Lynnwood
Office building Address SF Completed
Northpointe Corporate Center I 15815 25th Avenue West, 98087 87,385 2007
Northpointe Corporate Center II 16201 25th Avenue West, 98087 70,400 2007
21313 & 21323 68th Avenue West 21313 68th Avenue West, 98036 28,369 2005
Redstone Corporate Center I 19020 33rd Avenue West, 98036 202,273 2002
2122 164th Street SW 2122 164th Street SW, 98087 25,233 2001
Sparling Technology Center 4100 194th Street SW, 98036 63,225 2000
Lynnwood Corporate Center 19401 40th Avenue West, 98036 73,073 1989
19000 33rd Avenue West 19000 33rd Avenue West, 98036 30,884 1989
Alderwood Business Center 3400 188th Street SW, 98037 198,304 1986
Lynnwood Financial Center 19009 33rd Avenue West, 98036 26,319 1986

Worth noting among recent office completions on the Lynnwood market is Northpointe Corporate Center I, which is currently the largest new office development in the city, at 87,385 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 Lynnwood 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.