2020 Office Space Rent & Sales
- $31.38 2020 Avg. Asking Rent
- 12.22% 2020 Office Vacancy Rate
- $178M2020 Total Office Sales
- $218.91Avg. Sale Price/Sqft
Boulder office price per square foot in 2020 was $31.38 on average. The local office market recorded an average vacancy rate of 12.22% across all asset classes combined. The 7 transactions that closed here throughout 2020 amounted to a total sale volume of $178M. Boulder office space commanded an average sale price per square foot of $218.91.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Boulder Class A Office Space$46.75
- Boulder Class B Office Space$29.06
- Boulder Class C Office Space$31.98
- Colorado Class A Office Space$33.93
- Colorado Class B Office Space$24.71
- Colorado Class C Office Space$17.89
Boulder, CO Office Asking Rents by Class
Average office rent in Boulder rested at $31.38 per square foot in 2020. 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 Boulder averaged $46.75 per square foot. Across all submarkets, class B office space recorded an average asking rent of $29.06 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $31.98 per square foot, on average. Comparably, statewide Colorado average office rents by class in 2020 were: $33.93 per square foot for class A office space; $24.71 per square foot for class B office space; $17.89 per square foot for class C office space.
Boulder Office Sale Price per Sqft
Boulder, CO Sale Price per Sqft Trend
- Boulder Avg. Sale Price per Sqft in 2020$218.91
- Colorado Avg. Sale Price per Sqft in 2020$209.71
2020 Office Sales Volume
- Boulder, CO Total Office Sales Volume in 2020 $178M
- Boulder, CO Total Number of Office Sales Closed in 2020 7
Largest Boulder Office Sales in 2020
|Array BioPharma Campus||3200 Walnut Street||12/10/2020||$99,000,000|
|Covidien Center||5920 Longbow Drive||11/4/2020||$36,500,000|
|Lakeshore Building||5777 Central Avenue||3/6/2020||$16,250,000|
|6400 Lookout Road||6400 Lookout Road||12/29/2020||$10,848,110|
|6325 Gunpark Drive||6325 Gunpark Drive||12/29/2020||$7,651,895|
2020 Office Construction in Boulder, CO
- Boulder, CO Total Sqft completed in 2020 25,146
- Boulder, CO Total Sqft under construction in 2021 188,000
During 2020, 25,146 square feet of new office space were delivered across the market. At the close of 2020, the Boulder office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 25,146 square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 188,000 square feet of office space to the market, before year-end.
|RÊVE Boulder||3000 Pearl Pkwy, 80301||115,000||2021|
|S'PARK - Railyards Building||3401 Bluff Street, 80301||69,263||2021|
|The William Building||1650 Canyon Blvd, 80302||25,146||2020|
|Pearl Place - Phase II||2930 Pearl Street, 80301||110,000||2019|
|Riverbend Office Park - Della Cava Family Medical Pavilion||4801 Riverbend Road, 80301||75,263||2019|
|S'PARK - Market Building||3200 Bluff Street, 80301||53,000||2019|
|Canyon 28||2755 Canyon Blvd, 80302||43,483||2018|
|3107 Iris Avenue||3107 Iris Avenue, 80301||38,177||2018|
|Pearl Place - Phase I||2930 Pearl Street, 80301||214,737||2017|
|Boulder Commons||2440 Junction Place, 80301||100,228||2017|
Worth noting among recent office completions on the Boulder market is RÊVE Boulder, which is currently the largest new office development in the city, at 115,000 square feet.
See reports for nearby markets
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 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Boulder 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.