2024 Office Space Rent & Sales
- $25.87 2024 Avg. Asking Rent
- 15.51% 2024 Office Vacancy Rate
Vancouver office price per square foot in 2024 was $25.87 on average. The local office market recorded an average vacancy rate of 15.51% 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
- Vancouver Class A & A+ Office Space$30.87
- Vancouver Class B Office Space$25.16
- Vancouver Class C Office Space$13.50
- Washington Class A & A+ Office Space$43.88
- Washington Class B Office Space$28.21
- Washington Class C Office Space$20.51
Vancouver, WA Office Asking Rents by Class
Average office rent in Vancouver rested at $25.87 per square foot in 2024. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Vancouver averaged $30.87 per square foot. Across all submarkets, class B office space recorded an average asking rent of $25.16 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $13.50 per square foot, on average. Comparably, statewide Washington average office rents by class in 2024 were: $43.88 per square foot for class A office space; $28.21 per square foot for class B office space; $20.51 per square foot for class C office space.
Office Spaces for Rent in Washington
Coworking Spaces in Washington
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2024 Office Construction in Vancouver, WA
- Vancouver, WA Total SF completed in 2024 330,000
During 2024, 330,000 square feet of new office space were delivered across the market. At the close of 2024, the Vancouver office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 330,000 square feet of office space.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Port of Vancouver Terminal 1 | 100 SW Columbia Way, 98660 | 367,000 | 2025 |
| Columbia Tech Center - Building 687 | 18405 SE Mill Plain Blvd, 98683 | 29,041 | 2021 |
| 275 West 3rd Street | 275 West 3rd Street, 95660 | 32,500 | 2020 |
| 1625 SE 192nd Ave | 1625 SE 192nd Ave, 98607 | 35,503 | 2018 |
| Columbia Tech Center - Building 49 | 17801 SE 6th Way, 98683 | 35,200 | 2017 |
| Columbia Tech Center - Bldg 649 | 17801 SE 6th Way, 98683 | 34,700 | 2017 |
| Columbia Tech Center - Building 51 | 17750 SE 6th Way, 98683 | 51,822 | 2012 |
| 124th Center | 201 SE 124th Avenue, 98684 | 7,784 | 2010 |
| Columbia Tech Center - Building 31 | 17200 SE Mill Plain Blvd, 98683 | 52,856 | 2007 |
| 17800 SE Mill Plain Blvd | 17800 SE Mill Plain Blvd, 98683 | 49,250 | 2007 |
Worth noting among recent office completions on the Vancouver market is Port of Vancouver Terminal 1, which is currently the largest new office development in the city, at 367,000 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 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 Vancouver 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.