2020 Office Space Rent & Sales
- $22.53 2020 Avg. Asking Rent
- -0.45% Y-o-Y Avg. Asking Rent Change
- 15.97% 2020 Office Vacancy Rate
Lakewood office price per square foot in 2020 was $22.53 on average. This marked a -0.45% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 15.97% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Lakewood Class A Office Space$20.96
- Lakewood Class B Office Space$22.79
- Lakewood Class C Office Space$15.60
- Colorado Class A Office Space$33.93
- Colorado Class B Office Space$24.71
- Colorado Class C Office Space$17.89
Lakewood, CO Office Asking Rents by Class
Average office rent in Lakewood rested at $22.53 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 Lakewood averaged $20.96 per square foot. Across all submarkets, class B office space recorded an average asking rent of $22.79 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $15.60 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.
2020 Office Vacancy Rates in Lakewood
|Submarket||Asking Rents||Vacancy Rates|
|Lakewood - West||$23.76||17.42%|
|Highway 121 Corridor||$16.91||11.60%|
2020 Office Construction in Lakewood, CO
- Lakewood, 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 Lakewood office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.
|Terumo BCT Global Headquarters||11158 West Collins Avenue, 80215||120,000||2015|
|St. Anthony Hospital - Medical Plaza 1 & 2||11700 West 2nd Place, 80226||187,000||2012|
|Lakewood Medical Center||8805 West 14th Avenue, 80215||30,048||2008|
|2535 South Lewis Way||2535 South Lewis Way, 80227||33,832||2007|
|34 Van Gordon Street||34 Van Gordon Street, 80228||42,156||2005|
|Offices at Belmar - 7245 West Alaska Drive||7245 West Alaska Drive, 80026||150,427||2004|
|Department of Transportation Lakewood Building||12300 West Dakota Avenue, 80228||128,342||2004|
|8405 West Alameda Avenue||8405 West Alameda Avenue, 80226||50,915||2004|
|Western Area Power Administration Headquarters||12155 West Alameda Pkwy, 80228||115,650||1999|
|First Bank Corporate Headquarters||12345 West Colfax Avenue, 80215||222,063||1995|
Worth noting among recent office completions on the Lakewood market is Terumo BCT Global Headquarters, which is currently the largest new office development in the city, at 120,000 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 Lakewood 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.