2023 Office Space Rent & Sales
- $19.19 2023 Avg. Asking Rent
- -2.64% Y-o-Y Avg. Asking Rent Change
- 13.40% 2023 Office Vacancy Rate
Lexington office price per square foot in 2023 was $19.19 on average. This marked a -2.64% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 13.40% across all asset classes combined.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Lexington Class A & A+ Office Space$20.52
- Lexington Class B Office Space$18.98
- Kentucky Class A & A+ Office Space$21.07
- Kentucky Class B Office Space$18.98
- Kentucky Class C Office Space$19.82
Lexington, KY Office Asking Rents by Class
2023 Office Vacancy Rates in Lexington
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Lexington - Southwest | $19.69 | 5.62% |
Lexington - Southeast | $19.38 | 11.47% |
Lexington - East Central | $18.79 | 18.74% |
Lexington CBD | $17.67 | 14.79% |
Coworking Spaces in Kentucky
- Atlanta Coworking Space
- Chicago Coworking Space
- Charlotte Coworking Space
- Nashville Coworking Space
- Philadelphia Coworking Space
- Columbus Coworking Space
- Indianapolis Coworking Space
- Cincinnati Coworking Space
- Raleigh Coworking Space
- Pittsburgh Coworking Space
- Kansas City Coworking Space
- Alexandria Coworking Space
- Memphis Coworking Space
- Durham Coworking Space
- Louisville Coworking Space
- St. Louis Coworking Space
- Alpharetta Coworking Space
- Cleveland Coworking Space
- Asheville Coworking Space
- Richmond Coworking Space
- Chattanooga Coworking Space
2023 Office Construction in Lexington, KY
Office building | Address | SF | Completed |
---|---|---|---|
824 Bull Lea Run | 824 Bull Lea Run, 40511 | 44,533 | 2022 |
The Offices at City Center | 100 West Main Street, 40507 | 146,361 | 2019 |
998 Governors Lane | 998 Governors Lane, 40513 | 30,000 | 2010 |
395 Elaine Drive | 395 Elaine Drive, 40504 | 1,180 | 2010 |
Sir Barton Business Center | 2443 Sir Barton Way, 40509 | 44,384 | 2008 |
997 Governors Lane | 997 Governors Lane, 40513 | 31,188 | 2007 |
Hamburg Business Center - 2720 Old Rosebud Road | 2720 Old Rosebud Road, 40509 | 30,000 | 2007 |
535 Wellington Way | 535 Wellington Way, 40503 | 30,000 | 2006 |
US Attorneys Building | 260 West Vine Street, 40507 | 54,140 | 2005 |
448 & 444 Lewis Hargett Circle | 448 Lewis Hargett Circle, 40503 | 40,093 | 2005 |
Worth noting among recent office completions on the Lexington market is 824 Bull Lea Run, which is currently the largest new office development in the city, at 44,533 square feet.
See reports for other markets
- Louisville Office Rent Price
- Miami Office Rent Price
- Houston Office Rent Price
- Manhattan Office Rent Price
- San Diego Office Rent Price
- Atlanta Office Rent Price
- San Francisco Office Rent Price
- Charlotte Office Rent Price
- Phoenix Office Rent Price
- San Antonio Office Rent Price
- Denver Office Rent Price
- Washington Office Rent Price
- Chicago Office Rent Price
- Seattle Office Rent Price
- Austin Office Rent Price
- Los Angeles Office Rent Price
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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Lexington 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.