2024 Office Space Rent & Sales
- $21.91 2024 Avg. Asking Rent
- 18.97% 2024 Office Vacancy Rate
Olympia office price per square foot in 2024 was $21.91 on average. The local office market recorded an average vacancy rate of 18.97% 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
2024 Average Office Rent per Square Foot
- Washington Class A & A+ Office Space$43.88
- Washington Class B Office Space$28.21
- Washington Class C Office Space$20.51
Olympia, WA Office Asking Rents by Class
Office Spaces for Rent in Washington
Coworking Spaces in Washington
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2024 Office Construction in Olympia, WA
| Office building | Address | SF | Completed |
|---|---|---|---|
| Smyth Landing | 1801 West Bay Dr NW, 98502 | 23,557 | 2007 |
| Percival Creek | 2114 Caton Way SW, 98502 | 7,640 | 2007 |
| Lilly Road Professional Center | 128 Lilly Road NE, 98506 | 29,112 | 2006 |
| 1115 West Bay Drive NW | 1115 West Bay Drive NW, 98502 | 25,440 | 2006 |
| 3912 Martin Wy E | 3912 Martin Wy E, 98506 | 8,447 | 2006 |
| 4001 Harrison Ave NW | 4001 Harrison Ave NW, 98502 | 5,971 | 2006 |
| South Sound Office Park - Building 3 | 3721 Griffin Ln SE, 98501 | 3,176 | 2002 |
| Market Centre | 111 Market Street NE, 98501 | 48,888 | 2001 |
| Market Place Office Building | 724 Columbia Street NW, 98501 | 47,740 | 1998 |
| 2404 & 2424 Heritage Court SW | 2404 Heritage Court SW, 98502 | 35,696 | 1992 |
Worth noting among recent office completions on the Olympia market is Smyth Landing, which is currently the largest new office development in the city, at 23,557 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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Olympia 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.