Colorado Springs Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $23.04 2024 Avg. Asking Rent
  • 3.87% Y-o-Y Avg. Asking Rent Change
  • 18.80% 2024 Office Vacancy Rate
  • $59.8M2024 Total Office Sales
  • $191.91Avg. Sale Price/SF

Colorado Springs office price per square foot in 2024 was $23.04 on average. This marked a +3.87% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 18.80% across all asset classes combined. The 3 transactions that closed here throughout 2024 amounted to a total sale volume of $59.8M. Colorado Springs office space commanded an average sale price per square foot of $191.91.

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 Springs Class A & A+ Office Space$33.96
  • Colorado Springs Class B Office Space$21.18
  • Colorado Springs Class C Office Space$20.77
  • Colorado Class A & A+ Office Space$37.67
  • Colorado Class B Office Space$24.08
  • Colorado Class C Office Space$19.23

Colorado Springs, CO Office Asking Rents by Class

Average office rent in Colorado Springs rested at $23.04 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 Colorado Springs averaged $33.96 per square foot. Across all submarkets, class B office space recorded an average asking rent of $21.18 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $20.77 per square foot, on average. Comparably, statewide Colorado average office rents by class in 2024 were: $37.67 per square foot for class A office space; $24.08 per square foot for class B office space; $19.23 per square foot for class C office space.

Office Spaces for Rent in Colorado

Colorado Springs Office Sale Price per SF

  • $191.912024 Avg. Price per SF
  • $59.8M2024 Office Sales Volume
  • 32024 Number of Transactions

Colorado Springs, CO Sale Price per SF Trend

  • Colorado Springs Avg. Sale Price per SF in 2024$191.91
  • Colorado Avg. Sale Price per SF in 2024$115.50
The sale price for office space in Colorado Springs averaged $191.91 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

  • Colorado Springs, CO Total Office Sales Volume in 2024 $59.8M
  • Colorado Springs, CO Total Number of Office Sales Closed in 2024 3
A total of 3 deals closed on the Colorado Springs office market in 2024, adding up to a yearly sales volume of $59.8M. Notably, the largest transaction on the market saw Sisters Grove Pavilion change hands for $31,200,000 on 10/1/2024.
Data provided by Commercial Edge

Coworking Spaces in Colorado

2024 Office Construction in Colorado Springs, CO

Largest Office Properties Recently Completed in Colorado Springs
Office building Address SF Completed
InterQuest Marketplace - 1370 Interquest Pkwy 1370 Interquest Pkwy, 80921 60,000 2023
5780 E Woodmen Road 5780 E Woodmen Road, 80924 3,000 2021
5110 Edison Avenue 5110 Edison Avenue, 80915 42,484 2012
Epic One 10807 New Allegiance Drive, 80921 145,694 2008
Sisters Grove Pavilion 6011 East Woodmen Road, 80923 116,367 2007
NorthCare at St. Francis 6071 East Woodmen Road, 80923 85,250 2007
Patriot at Newport 1055 North Newport Road, 80916 59,763 2007
UCHealth Primary Care Clinic 8540 Scarborough Drive, 80920 42,770 2007
The Coutura Design Inspiration Center 6380 Corporate Centre Circle, 80919 29,712 2007
1230 Tenderfoot Hill Road 1230 Tenderfoot Hill Road, 80906 27,510 2007

Worth noting among recent office completions on the Colorado Springs market is InterQuest Marketplace - 1370 Interquest Pkwy, which is currently the largest new office development in the city, at 60,000 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 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 Colorado Springs 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.