Lenexa Office Market Trends

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)
In 2019, the average asking rent for office space in Lenexa was $21.19 per square foot, and the office vacancy rate across the market averaged 13.14 %. During 2019, developers added 47,871 square feet of new office space to the Lenexa market inventory. Office developments estimated for delivery during 2020 total 0 square feet.

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 %
Data provided by Commercial Edge
  • 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
10 Largest Office Buildings in Lenexa
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
Largest Office Properties Recently Completed in Lenexa
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
Data provided by Commercial Edge

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.