Westminster Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $27.31 2024 Avg. Asking Rent
  • 2.10% Y-o-Y Avg. Asking Rent Change
  • 11.85% 2024 Office Vacancy Rate
  • $61.6M2024 Total Office Sales
  • $208.59Avg. Sale Price/SF

Westminster office price per square foot in 2024 was $27.31 on average. This marked a +2.10% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 11.85% across all asset classes combined. The 4 transactions that closed here throughout 2024 amounted to a total sale volume of $61.6M. Westminster office space commanded an average sale price per square foot of $208.59.

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

  • Westminster Class A & A+ Office Space$31.67
  • Westminster Class B Office Space$20.88
  • Colorado Class A & A+ Office Space$37.67
  • Colorado Class B Office Space$24.08
  • Colorado Class C Office Space$19.23

Westminster, CO Office Asking Rents by Class

2024 Office Vacancy Rates in Westminster

Submarket Asking Rents Vacancy Rates
Denver Boulder Turnpike $29.50 24.64%
I-25 Corridor $23.79 9.42%
Arvada $21.80 20.18%
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 Westminster market was 11.85% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Westminster was 9.42% in the I-25 Corridor submarket, while the highest office vacancy in the market was 24.64%, recorded in Denver Boulder Turnpike.

Office Spaces for Rent in Colorado

Westminster Office Sale Price per SF

  • $208.592024 Avg. Price per SF
  • $61.6M2024 Office Sales Volume
  • 42024 Number of Transactions

Westminster, CO Sale Price per SF Trend

  • Westminster Avg. Sale Price per SF in 2024$208.59
  • Colorado Avg. Sale Price per SF in 2024$115.50
The sale price for office space in Westminster averaged $208.59 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

  • Westminster, CO Total Office Sales Volume in 2024 $61.6M
  • Westminster, CO Total Number of Office Sales Closed in 2024 4
A total of 4 deals closed on the Westminster office market in 2024, adding up to a yearly sales volume of $61.6M. Notably, the largest transaction on the market saw 14190 Orchard Pkwy change hands for $30,550,000 on 5/6/2024.
Data provided by Commercial Edge

Coworking Spaces in Colorado

2024 Office Construction in Westminster, CO

Largest Office Properties Recently Completed in Westminster
Office building Address SF Completed
12170 Tejon St #1000 12170 Tejon St, 80234 2,908 2018
12170 Tejon St #900 12170 Tejon St #900, 80234 2,536 2018
Northridge at Park Center Bldg. A-Ph.II 1665 West 121st Avenue, 80234 41,900 2014
St. Anthony North Medical Office Building 8510 Bryant Street, 80031 60,372 2008
905 West 124th Avenue 905 West 124th Avenue, 80234 30,368 2007
Walnut Creek Business Park 10835 Dover Street, 80021 149,568 2002
Church Ranch Corporate Center 7237 Church Ranch Blvd, 80021 151,746 2001
Church Ranch Corporate Center IV 10170 Church Ranch Way, 80021 124,098 2001
Church Ranch Corporate Center II 10249 Church Ranch Way, 80021 63,057 2001
Ten West at Westmoor Technology Park - Building 5 10385 Westmoor Drive, 80021 125,285 2000

Worth noting among recent office completions on the Westminster market is 12170 Tejon St #1000, which is currently the largest new office development in the city, at 2,908 square feet.

Data provided by Commercial Edge

See reports for other 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 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 Westminster 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.