Centennial Office Rent Price & Sales Report

2022 Office Space Rent & Sales

  • $22.35 2022 Avg. Asking Rent
  • 12.88% 2022 Office Vacancy Rate
  • $176M2022 Total Office Sales
  • $259.16Avg. Sale Price/SF

Centennial office price per square foot in 2022 was $22.35 on average. The local office market recorded an average vacancy rate of 12.88% across all asset classes combined. The 8 transactions that closed here throughout 2022 amounted to a total sale volume of $176M. Centennial office space commanded an average sale price per square foot of $259.16.

Average Rent by Office Class

2022 Average Office Rent per Square Foot

  • Centennial Class B Office Space$22.95
  • Centennial Class C Office Space$16.56
  • Colorado Class A & A+ Office Space$37.34
  • Colorado Class B Office Space$25.04
  • Colorado Class C Office Space$18.06

Centennial, CO Office Asking Rents by Class

2022 Office Vacancy Rates in Centennial

Submarket Asking Rents Vacancy Rates
Denver Tech Center $28.87 23.66%
Centennial $22.55 13.39%
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 Centennial market was 12.88% in 2022. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Centennial was 13.39% in the Centennial submarket, while the highest office vacancy in the market was 23.66%, recorded in Denver Tech Center.

Office Spaces for Rent in Colorado

Centennial Office Sale Price per SF

  • $259.162022 Avg. Price per SF
  • $176M2022 Office Sales Volume
  • 82022 Number of Transactions

Centennial, CO Sale Price per SF Trend

  • Centennial Avg. Sale Price per SF in 2022$259.16
  • Colorado Avg. Sale Price per SF in 2022$303.01
The sale price for office space in Centennial averaged $259.16 per square foot in 2022, across all market subdivisions and asset classes. Conversely, the statewide Colorado average office sale price during the same time period was $303.01 per square foot.

2022 Office Sales Volume

  • Centennial, CO Total Office Sales Volume in 2022 $176M
  • Centennial, CO Total Number of Office Sales Closed in 2022 8
A total of 8 deals closed on the Centennial office market in 2022, adding up to a yearly sales volume of $176M. Notably, the largest transaction on the market saw 9151 East Panorama Circle change hands for $106,000,000 on 4/18/2022.

Largest Centennial Office Sales in 2022

Property name Address Date Price
9151 East Panorama Circle 9151 East Panorama Circle 4/18/2022 $106,000,000
Highland Place I 8085 South Chester Street 2/24/2022 $22,200,000
Southeast Pediatric Medical Center 9094 East Mineral Avenue 12/30/2022 $16,400,000
Plaza Quebec 6025 South Quebec Street 7/19/2022 $10,600,000
Creekside at Cherry Creek 12929 East Peakview Avenue 3/11/2022 $6,500,000
Data provided by Commercial Edge

Coworking Spaces in Colorado

2022 Office Construction in Centennial, CO

Largest Office Properties Recently Completed in Centennial
Office building Address SF Completed
INOVA Dry Creek - Building 2 10825 East Geddes Avenue, 80112 222,083 2018
INOVA Dry Creek - Building 1 7250 South Havana Street, 80112 211,675 2017
6590 S vine st 6590 s vine st, 80121 11,589 2007
12354 E Caley Ave #102 & 202 12354 East Caley Avenue, 80111 3,384 2005
6782 South Potomac Street 6782 South Potomac Street, 80112 63,308 2002
7343 S Alton Way 7343 South Alton Way, 80112 12,400 2002
WaterPark at Briarwood 10731 East Easter Avenue, 80112 207,332 2001
10731 East Easter Avenue Building 4 10731 East Easter Avenue, 80112 29,400 2001
9055 East Mineral Circle 9055 East Mineral Circle, 80112 18,928 2001
Waterview IV 7958 South Chester Street, 80112 167,917 2000

Worth noting among recent office completions on the Centennial market is INOVA Dry Creek - Building 2, which is currently the largest new office development in the city, at 222,083 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 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Centennial 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.