Office Rental Market
- $21.19 2019 Avg. Asking Rent
- 13.14 % 2019 Avg. Vacancy Rate
- 47,871 2019 Office Completions (Sqft)
- 0 2020 Estimated Pipeline (Sqft)
Average Office Asking Rents by Class
2019 Average Office Rent per Square Foot
- Lenexa Class A Office Buildings$24.95
- Lenexa Class B Office Buildings$21.24
- Lenexa Class C Office Buildings$17.66
- KS Class A Office Buildings$25.81
- KS Class B Office Buildings$20.56
- KS Class C Office Buildings$16.57
Lenexa, KS Office Asking Rents by Class
Office asking rents vary across the Lenexa office market depending on several factors, one of which is property class. While rents for Class A office buildings in Lenexa averaged $24.95 per square foot in 2019, Class B office properties garnered average rental rates of $21.24 per square foot. Rental rates for Class C office property in Lenexa averaged $17.66 per square foot. On a statewide level, Class B office space rents averaged $20.56 per square foot, while rents for Class A office space across Kansas averaged $25.81 per square foot. On average, Class C office properties in Kansas commanded rents of $16.57 per square foot.
2019 OFFICE VACANCY RATES
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Olathe | $21.66 | 8.38 % |
Lenexa - Shawnee | $21.16 | 13.80 % |
- The lowest office vacancy rate in 2019 in Lenexa was 8.38 % in the Olathe submarket, where asking rents averaged $21.66.
- The highest office vacancy rate in 2019 in Lenexa was 13.80 % in the Lenexa - Shawnee submarket, where asking rents averaged $21.16.
OFFICE CONSTRUCTION IN Lenexa, KS
- Lenexa, KS Total Sqft completed in 2019 47,871
- Lenexa, KS Total Sqft under construction in 2020 0
Building name | Address | Total Sqft | Year built |
---|---|---|---|
10101 Renner Blvd | 10101 Renner Blvd, 66219 | 288,568 | 1998 |
8900 Renner Blvd | 8900 Renner Blvd, 66219 | 237,900 | 2013 |
8880 Penrose Lane | 8880 Penrose Lane, 66219 | 182,000 | 2018 |
Lenexa City Center - 8950 Renner Blvd | 8950 Renner Blvd, 66219 | 181,680 | 2013 |
Clinical Reference Laboratory Headquarters | 11843 West 83rd Terrace, 66214 | 180,102 | 1971 |
11201 Renner Blvd | 11201 Renner Blvd, 66219 | 169,585 | 2007 |
16505 West 113th Street | 16505 West 113th Street, 66219 | 166,792 | 1989 |
Renner Corporate Centre I | 9401 Renner Blvd, 66219 | 150,910 | 2008 |
Shawnee Mission Health Prairie Star | 23401 Prairie Star Pkwy, 66227 | 150,000 | 2008 |
9755 Ridge Drive | 9755 Ridge Drive, 66219 | 142,679 | 2004 |
Office building | Address | Sqft | Completed |
---|---|---|---|
Penn I, II & III | 8711 Penrose Lane, 66219 | 67,742 | 2019 |
8880 Penrose Lane | 8880 Penrose Lane, 66219 | 182,000 | 2018 |
Central Green | 8655 Penrose Lane, 66219 | 35,317 | 2018 |
Commerce Center Business Park - 9511 Legler Road | 9511 Legler Road, 66219 | 53,000 | 2016 |
8900 Renner Blvd | 8900 Renner Blvd, 66219 | 237,900 | 2013 |
Lenexa City Center - 8950 Renner Blvd | 8950 Renner Blvd, 66219 | 181,680 | 2013 |
Renner Corporate Centre I | 9401 Renner Blvd, 66219 | 150,910 | 2008 |
Shawnee Mission Health Prairie Star | 23401 Prairie Star Pkwy, 66227 | 150,000 | 2008 |
16201 West 95th Street | 16201 West 95th Street, 66219 | 47,667 | 2008 |
11201 Renner Blvd | 11201 Renner Blvd, 66219 | 169,585 | 2007 |
Office Spaces for Rent in Kansas
See trends for nearby markets
The Lenexa office market contains an inventory of 5,548,828 square feet of office space, in 87 buildings that are equal to or larger than 25,000 square feet.
This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive knowledge on all Lenexa 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.