Office Rental Market
- $19.13 2019 Avg. Asking Rent
- 15.74 % 2019 Avg. Vacancy Rate
- 41,870 2019 Office Completions (Sqft)
- 235,000 2020 Estimated Pipeline (Sqft)
Average Office Asking Rents by Class
2019 Average Office Rent per Square Foot
- Kalamazoo Class A Office Buildings$22.90
- Kalamazoo Class B Office Buildings$22.43
- Kalamazoo Class C Office Buildings$15.44
- MI Class A Office Buildings$25.15
- MI Class B Office Buildings$20.81
- MI Class C Office Buildings$17.05
Kalamazoo, MI Office Asking Rents by Class
Office asking rents vary across the Kalamazoo office market depending on several factors, one of which is property class. While rents for Class A office buildings in Kalamazoo averaged $22.90 per square foot in 2019, Class B office properties garnered average rental rates of $22.43 per square foot. Rental rates for Class C office property in Kalamazoo averaged $15.44 per square foot. On a statewide level, Class B office space rents averaged $20.81 per square foot, while rents for Class A office space across Michigan averaged $25.15 per square foot. On average, Class C office properties in Michigan commanded rents of $17.05 per square foot.
OFFICE CONSTRUCTION IN Kalamazoo, MI
- Kalamazoo, MI Total Sqft completed in 2019 41,870
- Kalamazoo, MI Total Sqft under construction in 2020 235,000
| Building name | Address | Total Sqft | Year built |
|---|---|---|---|
| The Exchange | 151 SW Michigan Avenue, 49002 | 345,000 | 2019 |
| Bronson Methodist Hospital - Medical Office Pavilion | 601 John Street, 49007 | 223,000 | 2000 |
| 125 S Kalamazoo Mall | 125 S Kalamazoo Mall, 49007 | 172,000 | 1900 |
| Comerica Building | 151 South Rose Street, 49007 | 129,780 | 1970 |
| Borgess Health and Fitness | 3025 Gull Road, 49048 | 93,500 | 1981 |
| Frank J. Sardone Cancer Pavilion | 805 John Street, 49001 | 85,000 | 2021 |
| Family Health Center - Paterson Street Campus | 117 West Paterson Street, 49007 | 75,000 | 1971 |
| Stryker World Headquarters | 2825 Airview Blvd, 49002 | 75,000 | 2006 |
| The Miller Canfield Building | 277 South Rose Street, 49007 | 74,934 | 2006 |
| Atriums Office Park | 4341 South Westnedge Avenue, 49008 | 72,000 | 1984 |
| Office building | Address | Sqft | Completed |
|---|---|---|---|
| Frank J. Sardone Cancer Pavilion | 805 John Street, 49001 | 85,000 | 2021 |
| The Exchange | 151 SW Michigan Avenue, 49002 | 345,000 | 2019 |
| 400 Bryant Street | 400 Bryant Street, 49001 | 50,000 | 2018 |
| The Foundry | 600 East Michigan Avenue, 49007 | 53,000 | 2017 |
| Family Health Center - Alcott Street Campus | 505 East Alcott Street, 49001 | 50,000 | 2016 |
| Newell Rubbermaid Design Center | 3300 Research Way, 49008 | 40,000 | 2014 |
| Stryker World Headquarters | 2825 Airview Blvd, 49002 | 75,000 | 2006 |
| The Miller Canfield Building | 277 South Rose Street, 49007 | 74,934 | 2006 |
| Speareflex & Shakespeare Buildings | 261 East Kalamazoo Avenue, 49007 | 60,714 | 2003 |
| Bronson Methodist Hospital - Medical Office Pavilion | 601 John Street, 49007 | 223,000 | 2000 |
Office Spaces for Rent in Michigan
See trends for nearby markets
The Kalamazoo office market contains an inventory of 2,508,734 square feet of office space, in 38 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 Kalamazoo 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.