Kalamazoo Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $17.53 2024 Avg. Asking Rent
  • 8.22% 2024 Office Vacancy Rate

Kalamazoo office price per square foot in 2024 was $17.53 on average. The local office market recorded an average vacancy rate of 8.22% across all asset classes combined.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Michigan Class A & A+ Office Space$23.20
  • Michigan Class B Office Space$21.30
  • Michigan Class C Office Space$15.30

Kalamazoo, MI Office Asking Rents by Class

2024 Office Vacancy Rates in Kalamazoo

Submarket Asking Rents Vacancy Rates
Portage $32.70 30.43%
Kalamazoo $17.15 13.26%
Data provided by Yardi Research
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Kalamazoo market was 8.22% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Kalamazoo was 13.26% in the Kalamazoo submarket, while the highest office vacancy in the market was 30.43%, recorded in Portage.

Office Spaces for Rent in Michigan

Coworking Spaces in Michigan

2024 Office Construction in Kalamazoo, MI

Largest Office Properties Recently Completed in Kalamazoo
Office building Address SF Completed
The Exchange 151 SW Michigan Avenue, 49002 345,000 2019
Weidenhammer Building 4664 Campus Dr, 49008 15,000 2003
Arcadia North 245 North Rose Street, 49007 55,555 1992
Medallion Mgmt Bldg. 834 King Hwy, 49001 22,529 1989
141 East Michigan Avenue 141 East Michigan Avenue, 49007 40,600 1988
4341 South Westnedge Avenue 4341 South Westnedge Avenue, 49008 72,000 1984
126 E South St 126 E South St, 7,595 1978
4425 Manchester Road 4433 Manchester Rd, 49001 19,232 1977
315 S Kalamazoo Mall & 126 E South Street 315 S Kalamazoo Mall, 49007 24,169 1975
ABA Building 3234 S Westnedge Ave, 49008 11,244 1957

Worth noting among recent office completions on the Kalamazoo market is The Exchange, which is currently the largest new office development in the city, at 345,000 square feet.

Data provided by Yardi Research

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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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by Yardi Research Data, a market intelligence solution which offers comprehensive real market 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 Yardi Research Data can guarantee that the information provided is complete.