Greenwood Village Office Rent Price & Sales Report

2020 Office Space Rent & Sales

  • $26.40 2020 Avg. Asking Rent
  • 1.09% Y-o-Y Avg. Asking Rent Change
  • 14.44% 2020 Office Vacancy Rate
  • $197.9M2020 Total Office Sales
  • $227.68Avg. Sale Price/Sqft

Greenwood Village office price per square foot in 2020 was $26.40 on average. This marked a +1.09% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 14.44% across all asset classes combined. The 4 transactions that closed here throughout 2020 amounted to a total sale volume of $197.9M. Greenwood Village office space commanded an average sale price per square foot of $227.68.

Average Rent by Office Class

2020 Average Office Rent per Square Foot

  • Greenwood Village Class A Office Space$32.61
  • Greenwood Village Class B Office Space$23.80
  • Greenwood Village Class C Office Space$19.85
  • Colorado Class A Office Space$33.93
  • Colorado Class B Office Space$24.71
  • Colorado Class C Office Space$17.89

Greenwood Village, CO Office Asking Rents by Class

Average office rent in Greenwood Village rested at $26.40 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 Greenwood Village averaged $32.61 per square foot. Across all submarkets, class B office space recorded an average asking rent of $23.80 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $19.85 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.

Greenwood Village Office Sale Price per Sqft

  • $227.682020 Avg. Price per Sqft
  • 23.06%Y-o-Y Avg. PpSF Change
  • $197.9M2020 Office Sales Volume
  • 42020 Number of Transactions

Greenwood Village, CO Sale Price per Sqft Trend

  • Greenwood Village Avg. Sale Price per Sqft in 2020$227.68
  • Colorado Avg. Sale Price per Sqft in 2020$209.71
Greenwood Village office space cost in 2020 marked a +23.06% change compared to the previous year. The sale price for office space in Greenwood Village averaged $227.68 per square foot in 2020, across all market subdivisions and asset classes. Conversely, the statewide Colorado average office sale price during the same time period was $209.71 per square foot.

2020 Office Sales Volume

  • Greenwood Village, CO Total Office Sales Volume in 2020 $197.9M
  • Greenwood Village, CO Total Number of Office Sales Closed in 2020 4
A total of 4 deals closed on the Greenwood Village office market in 2020, adding up to a yearly sales volume of $197.9M. Notably, the largest transaction on the market saw Village Center Station III - CoBank Center change hands for $120,000,000 on 8/3/2020.

Largest Greenwood Village Office Sales in 2020

Property name Address Date Price
Village Center Station III - CoBank Center 6340 South Fiddler's Green Circle 8/3/2020 $120,000,000
Triad at Orchard Station 5660 Greenwood Plaza Blvd 2/12/2020 $54,000,000
Terrace Building, The 5575 DTC Pkwy 10/30/2020 $17,110,500
Syracuse Hill III 6161 South Syracuse Way 9/16/2020 $6,800,000
Data provided by Commercial Edge

2020 Office Construction in Greenwood Village, CO

  • Greenwood Village, CO Total Sqft completed in 2020

During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Greenwood Village office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.

Largest Office Properties Recently Completed in Greenwood Village
Office building Address Sqft Completed
Village Center Station III - CoBank Center 6340 South Fiddler's Green Circle, 80111 274,287 2015
The Landmark Medical Center 5351 South Roslyn Street, 80111 33,282 2015
Greenwood Corporate Plaza - Building 7 6295 Greenwood Plaza Blvd, 80111 50,338 2014
Fiddlers Green Center II 6501 South Fiddler's Green Circle, 80111 207,000 2000
Crescent V 8450 East Crescent Pkwy, 80111 89,895 2000
Crestline Office Center 7400 East Crestline Circle, 80111 61,500 2000
Great-West Financial - Tower III 8525 East Orchard Road, 80111 222,833 1999
Crescent VI 8400 East Crescent Pkwy, 80111 134,113 1999
Fiddlers Green Center I 6399 South Fiddler's Green Circle, 80111 207,000 1998
Crescent VII 8390 East Crescent Pkwy, 80111 135,044 1996

Worth noting among recent office completions on the Greenwood Village market is Village Center Station III - CoBank Center, which is currently the largest new office development in the city, at 274,287 square feet.

Data provided by Commercial Edge

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 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.