2020 Office Space Rent & Sales
- $27.56 2020 Avg. Asking Rent
- 17.99 % 2020 Office Vacancy Rate
Westminster office price per square foot in 2020 was $27.56 on average. The local office market recorded an average vacancy rate of 17.99 % across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Westminster Class A Office Space$28.77
- Westminster Class B Office Space$23.18
- Westminster Class C Office Space$22.24
- Colorado Class A Office Space$33.93
- Colorado Class B Office Space$24.71
- Colorado Class C Office Space$17.89
Westminster, CO Office Asking Rents by Class
Average office rent in Westminster rested at $27.56 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 Westminster averaged $28.77 per square foot. Across all submarkets, class B office space recorded an average asking rent of $23.18 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $22.24 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 Westminster
|Submarket||Asking Rents||Vacancy Rates|
|Denver Boulder Turnpike||$27.94||14.96%|
2020 Office Construction in Westminster, CO
- Westminster, 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 Westminster office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.
|855 West 122nd Avenue||855 West 122nd Avenue, 80234||54,425||2016|
|6500 West 104th Avenue||6500 West 104th Avenue, 80020||37,080||2016|
|St. Anthony North Medical Pavilion II||500 West 144th Avenue, 80023||41,400||2015|
|10368 Westmoor Drive||10368 Westmoor Drive, 80021||250,000||2012|
|St. Anthony's North Medical Office Building||8510 Bryant Street, 80031||60,372||2008|
|Northridge Commons||12207 North Pecos Street, 80234||33,976||2008|
|905 West 124th Avenue||905 West 124th Avenue, 80234||30,368||2007|
|1870 West 122nd Avenue||1870 West 122nd Avenue, 80234||71,543||2002|
|Ten West at Westmoor Technology Park - Building 7||10955 Westmoor Drive, 80021||204,387||2001|
|Ten West at Westmoor Technology Park - Building 10||11000 Westmoor Circle, 80021||161,325||2001|
Worth noting among recent office completions on the Westminster market is 855 West 122nd Avenue, which is currently the largest new office development in the city, at 54,425 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 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.