Greenwood Village Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $27.87 2024 Avg. Asking Rent
  • -1.47% Y-o-Y Avg. Asking Rent Change
  • 23.81% 2024 Office Vacancy Rate
  • $106.5M2024 Total Office Sales
  • $71.15Avg. Sale Price/SF

Greenwood Village office price per square foot in 2024 was $27.87 on average. This marked a -1.47% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 23.81% across all asset classes combined. The 10 transactions that closed here throughout 2024 amounted to a total sale volume of $106.5M. Greenwood Village office space commanded an average sale price per square foot of $71.15.

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

  • Greenwood Village Class A & A+ Office Space$35.74
  • Greenwood Village Class B Office Space$25.41
  • Greenwood Village Class C Office Space$22.00
  • Colorado Class A & A+ Office Space$37.67
  • Colorado Class B Office Space$24.08
  • Colorado Class C Office Space$19.23

Greenwood Village, CO Office Asking Rents by Class

Average office rent in Greenwood Village rested at $27.87 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 Greenwood Village averaged $35.74 per square foot. Across all submarkets, class B office space recorded an average asking rent of $25.41 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $22.00 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.

2024 Office Vacancy Rates in Greenwood Village

Submarket Asking Rents Vacancy Rates
Denver Tech Center $29.31 26.33%
Centennial $22.45 21.90%
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 Greenwood Village market was 23.81% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Greenwood Village was 21.90% in the Centennial submarket, while the highest office vacancy in the market was 26.33%, recorded in Denver Tech Center.

Office Spaces for Rent in Colorado

Greenwood Village Office Sale Price per SF

  • $71.152024 Avg. Price per SF
  • $106.5M2024 Office Sales Volume
  • 102024 Number of Transactions

Greenwood Village, CO Sale Price per SF Trend

  • Greenwood Village Avg. Sale Price per SF in 2024$71.15
  • Colorado Avg. Sale Price per SF in 2024$115.50
The sale price for office space in Greenwood Village averaged $71.15 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

  • Greenwood Village, CO Total Office Sales Volume in 2024 $106.5M
  • Greenwood Village, CO Total Number of Office Sales Closed in 2024 10
A total of 10 deals closed on the Greenwood Village office market in 2024, adding up to a yearly sales volume of $106.5M. Notably, the largest transaction on the market saw Legacy Center DTC change hands for $26,000,000 on 6/14/2024.
Data provided by Commercial Edge

Coworking Spaces in Colorado

2024 Office Construction in Greenwood Village, CO

Largest Office Properties Recently Completed in Greenwood Village
Office building Address SF Completed
5571 South Yosemite Street 5571 S Yosemite St, 80111 15,200 2022
Palazzo Verdi 6363 South Fiddlers Green Circle, 80111 317,352 2008
Village Center Station I 6380 South Fiddler's Green Circle, 80111 234,915 2008
Fiddlers Green Center II 6501 South Fiddlers Green Circle, 80111 206,734 2000
Crestline Office Center 7400 East Crestline Circle, 80111 61,500 2000
One Greenwood Plaza 6550 Greenwood Plaza Boulevard, 80111 247,312 1999
Crescent VI 8400 East Crescent Pkwy, 80111 134,113 1999
Crescent IV 8490 East Crescent Pkwy, 80111 39,492 1998
Crescent IV 8490 East Crescent Parkway, 80111 40,000 1997
Crescent VII 8390 East Crescent Pkwy, 80111 135,044 1996

Worth noting among recent office completions on the Greenwood Village market is 5571 South Yosemite Street, which is currently the largest new office development in the city, at 15,200 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 Greenwood Village 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.