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
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
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
Largest Greenwood Village Office Sales in 2020
|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|
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.
|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.
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.