2021 Office Space Rent & Sales
- $21.44 2021 Avg. Asking Rent
- 20.04% 2021 Office Vacancy Rate
Kalamazoo office price per square foot in 2021 was $21.44 on average. The local office market recorded an average vacancy rate of 20.04% across all asset classes combined.
Average Rent by Office Class
2021 Average Office Rent per Square Foot
- Kalamazoo Class A & A+ Office Space$25.58
- Kalamazoo Class B Office Space$21.51
- Kalamazoo Class C Office Space$17.74
- Michigan Class A & A+ Office Space$24.29
- Michigan Class B Office Space$20.42
- Michigan Class C Office Space$17.17
Kalamazoo, MI Office Asking Rents by Class
Average office rent in Kalamazoo rested at $21.44 per square foot in 2021. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Kalamazoo averaged $25.58 per square foot. Across all submarkets, class B office space recorded an average asking rent of $21.51 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $17.74 per square foot, on average. Comparably, statewide Michigan average office rents by class in 2021 were: $24.29 per square foot for class A office space; $20.42 per square foot for class B office space; $17.17 per square foot for class C office space.
Office Spaces for Rent in Michigan
- Detroit Office Space
- Ann Arbor Office Space
- Southfield Office Space
- Troy Office Space
- Grand Rapids Office Space
- Lansing Office Space
- Farmington Hills Office Space
- Novi Office Space
- Livonia Office Space
- Dearborn Office Space
- Okemos Office Space
- Flint Office Space
- East Lansing Office Space
- Auburn Hills Office Space
- Kalamazoo Office Space
Coworking Spaces in Michigan
- New York City Coworking Space
- Manhattan Coworking Space
- Chicago Coworking Space
- Brooklyn Coworking Space
- Philadelphia Coworking Space
- Hudson Valley Coworking Space
- Indianapolis Coworking Space
- Cincinnati Coworking Space
- Columbus Coworking Space
- Pittsburgh Coworking Space
- Detroit Coworking Space
- Cleveland Coworking Space
- Milwaukee Coworking Space
- Queens Coworking Space
- Troy Coworking Space
- Grand Rapids Coworking Space
- Ann Arbor Coworking Space
- Birmingham Coworking Space
- Royal Oak Coworking Space
- Lansing Coworking Space
2021 Office Construction in Kalamazoo, MI
- Kalamazoo, MI Total SF completed in 2021 85,000
During 2021, 85,000 square feet of new office space were delivered across the market. At the close of 2021, the Kalamazoo office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 85,000 square feet of office space.
| Office building | Address | SF | Completed |
|---|---|---|---|
| The Exchange | 151 SW Michigan Avenue, 49002 | 345,000 | 2019 |
| Speareflex & Shakespeare Buildings | 261 East Kalamazoo Avenue, 49007 | 60,714 | 2003 |
| The Globe Building | 211 East Water Street, 49007 | 50,042 | 1999 |
| Arcadia North | 245 North Rose Street, 49007 | 55,555 | 1992 |
| Airview Center | 2725 Airview Boulevard, 49002 | 36,187 | 1990 |
| 141 E Michigan Ave | 141 E Michigan Ave, 49007 | 40,600 | 1988 |
| 141 E Michigan Ave | 141 E Michigan Ave, 49007 | 40,600 | 1988 |
| The Atrium's | 4341 S Westnedge Avenue, 49008 | 72,000 | 1985 |
| Arcadia South | 225 North Rose Street, 49007 | 58,445 | 1983 |
| DOWNTOWN OFFICE SPACE | 444 W. Michigan Avenue, 49007 | 27,422 | 1981 |
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.
See reports for other markets
- Detroit Office Rent Price
- Ann Arbor Office Rent Price
- Southfield Office Rent Price
- Troy Office Rent Price
- Grand Rapids Office Rent Price
- Lansing Office Rent Price
- Farmington Hills Office Rent Price
- Portage Office Rent Price
- San Antonio Office Rent Price
- Seattle Office Rent Price
- Charlotte Office Rent Price
- Phoenix Office Rent Price
- San Diego Office Rent Price
- Denver Office Rent Price
- Austin Office Rent Price
- Chicago 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 2021 through December 31st 2021. Construction pipeline data represented herein is valid as of April 2022. The information on this page was compiled using data provided by CommercialEdge, 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 CommercialEdge can guarantee that the information provided is complete.