Centennial Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $23.54 2024 Avg. Asking Rent
  • -2.55% Y-o-Y Avg. Asking Rent Change
  • 18.98% 2024 Office Vacancy Rate
  • $61.6M2024 Total Office Sales
  • $91.69Avg. Sale Price/SF

Centennial office price per square foot in 2024 was $23.54 on average. This marked a -2.55% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 18.98% across all asset classes combined. The 6 transactions that closed here throughout 2024 amounted to a total sale volume of $61.6M. Centennial office space commanded an average sale price per square foot of $91.69.

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

  • Colorado Class A & A+ Office Space$37.67
  • Colorado Class B Office Space$24.08
  • Colorado Class C Office Space$19.23

Centennial, CO Office Asking Rents by Class

2024 Office Vacancy Rates in Centennial

Submarket Asking Rents Vacancy Rates
Denver Tech Center $29.31 26.33%
Centennial $22.45 21.90%
Aurora $21.04 17.12%
Data provided by Yardi Research
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 18.98% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Centennial was 17.12% in the Aurora submarket, while the highest office vacancy in the market was 26.33%, recorded in Denver Tech Center.

Office Spaces for Rent in Colorado

Centennial Office Sale Price per SF

  • $91.692024 Avg. Price per SF
  • -6.98%Y-o-Y Avg. PpSF Change
  • $61.6M2024 Office Sales Volume
  • 62024 Number of Transactions

Centennial, CO Sale Price per SF Trend

  • Centennial Avg. Sale Price per SF in 2024$91.69
  • Colorado Avg. Sale Price per SF in 2024$115.50
Centennial office space cost in 2024 marked a -6.98% change compared to the previous year. The sale price for office space in Centennial averaged $91.69 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Colorado average office sale price during the same time period was $115.50 per square foot.

2024 Office Sales Volume

  • Centennial, CO Total Office Sales Volume in 2024 $61.6M
  • Centennial, CO Total Number of Office Sales Closed in 2024 6
A total of 6 deals closed on the Centennial office market in 2024, adding up to a yearly sales volume of $61.6M. Notably, the largest transaction on the market saw Rampart Center change hands for $18,000,000 on 7/18/2024.
Data provided by Yardi Research

Coworking Spaces in Colorado

2024 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
6649 S Paris St 6649 S Paris St, 80111 6,324 2009
3,441 SF office condo with high end finishes throughout 7384 South Alton Way #203-204, 80112 3,441 2007
3,441 SF office condo with high end finishes throughout 7384 South Alton Way #203-204, 80112 3,441 2007
3,350 SF Office Condo with high quality finishes 7374 South Alton Way #101-102, 80112 3,350 2007
3,350 SF Office Condo with high quality finishes 7374 South Alton Way #101-102, 80112 3,350 2007
Peakview Tower 6465 Greenwood Plaza Blvd, 80111 264,149 2000
Burns & Wilcox Center 7807 East Peakview Avenue, 80111 96,269 1999
Revere Corporate Center 6377 South Revere Pkwy, 80111 63,364 1999

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 Yardi Research

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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 Yardi Research Data, 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 Yardi Research Data can guarantee that the information provided is complete.