2022 Office Space Rent & Sales
- $19.50 2022 Avg. Asking Rent
- 3.82% Y-o-Y Avg. Asking Rent Change
- 13.57% 2022 Office Vacancy Rate
- $40.5M2022 Total Office Sales
- $83.68Avg. Sale Price/SF
Albuquerque office price per square foot in 2022 was $19.50 on average. This marked a +3.82% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 13.57% across all asset classes combined. The 6 transactions that closed here throughout 2022 amounted to a total sale volume of $40.5M. Albuquerque office space commanded an average sale price per square foot of $83.68.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Albuquerque Class A & A+ Office Space$21.75
- Albuquerque Class B Office Space$17.50
- Albuquerque Class C Office Space$14.75
- New Mexico Class A & A+ Office Space$21.04
- New Mexico Class B Office Space$17.81
- New Mexico Class C Office Space$16.32
Albuquerque, NM Office Asking Rents by Class
Average office rent in Albuquerque rested at $19.50 per square foot in 2022. 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 Albuquerque averaged $21.75 per square foot. Across all submarkets, class B office space recorded an average asking rent of $17.50 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $14.75 per square foot, on average. Comparably, statewide New Mexico average office rents by class in 2022 were: $21.04 per square foot for class A office space; $17.81 per square foot for class B office space; $16.32 per square foot for class C office space.
2022 Office Vacancy Rates in Albuquerque
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Albuquerque - I-25 Corridor | $21.01 | 13.40% |
Kirtland AFB | $20.38 | 0.00% |
Albuquerque - Downtown | $19.68 | 22.39% |
Albuquerque - North Valley | $19.25 | 2.39% |
Albuquerque - Northeast Heights | $18.75 | 2.88% |
Albuquerque - Midtown | $17.26 | 12.50% |
Albuquerque - Airport | $15.55 | 19.00% |
Albuquerque Office Sale Price per SF
- $83.682022 Avg. Price per SF
- -15.36%Y-o-Y Avg. PpSF Change
- $40.5M2022 Office Sales Volume
- 62022 Number of Transactions
Albuquerque, NM Sale Price per SF Trend
- Albuquerque Avg. Sale Price per SF in 2022$83.68
- New Mexico Avg. Sale Price per SF in 2022$82.22
2022 Office Sales Volume
- Albuquerque, NM Total Office Sales Volume in 2022 $40.5M
- Albuquerque, NM Total Number of Office Sales Closed in 2022 6
Largest Albuquerque Office Sales in 2022
Property name | Address | Date | Price |
---|---|---|---|
5601 Office Blvd NE | 5601 Office Blvd NE | 12/2/2022 | $10,800,000 |
Gold Building | 320 Gold Avenue SW | 1/28/2022 | $8,246,000 |
NZ Building | 1601 Randolph Road SE | 5/9/2022 | $3,216,938 |
Sycamore Square | 1400 Central Avenue SE | 5/12/2022 | $2,596,160 |
Coworking Spaces in New Mexico
- Houston Coworking Space
- Houston Coworking Space
- Los Angeles Coworking Space
- Los Angeles Coworking Space
- Dallas Coworking Space
- Dallas Coworking Space
- Denver Coworking Space
- San Francisco Coworking Space
- San Francisco Coworking Space
- San Diego Coworking Space
- San Diego Coworking Space
- Las Vegas Coworking Space
- Las Vegas Coworking Space
- Austin Coworking Space
- Austin Coworking Space
- San Antonio Coworking Space
- Phoenix Coworking Space
- San Antonio Coworking Space
- Phoenix Coworking Space
- Irvine Coworking Space
- Irvine Coworking Space
- Scottsdale Coworking Space
- Scottsdale Coworking Space
- Salt Lake City Coworking Space
- Salt Lake City Coworking Space
- Plano Coworking Space
- Plano Coworking Space
- Fort Worth Coworking Space
- Fort Worth Coworking Space
- Oakland Coworking Space
2022 Office Construction in Albuquerque, NM
- Albuquerque, NM Total SF under construction in 2023 34,000
Office building | Address | SF | Completed |
---|---|---|---|
The Portland Building at Winrock Town Center | 2100 Louisiana Blvd NE, 87110 | 30,492 | 2024 |
WESST Enterprise Center | 609 Broadway Blvd NE, 87102 | 37,000 | 2009 |
Copper Pointe | 10500 Copper Avenue, 87123 | 28,482 | 2009 |
Jefferson Plaza | 4041 Jefferson Plaza, 87109 | 77,276 | 2008 |
6801 Jefferson St NE | 6801 Jefferson St NE, 87109 | 30,084 | 2008 |
4601 Paradise Blvd. NW | 4601 Paradise Blvd. NW, 87114 | 11,154 | 2007 |
Jefferson Green at Journal Center | 7601 Jefferson Street NE, 87109 | 81,000 | 2006 |
6330 Riverside Plaza Lane | 6330 Riverside Plaza Lane, 87120 | 36,872 | 2005 |
9430 San Mateo Blvd NE | 9430 San Mateo Blvd NE, 87113 | 2,400 | 2005 |
Altura Office Building | 4101 Indian School Road NE, 87110 | 110,000 | 2004 |
Worth noting among recent office completions on the Albuquerque market is The Portland Building at Winrock Town Center, which is currently the largest new office development in the city, at 30,492 square feet.
See reports for other markets
- Santa Fe Office Rent Price
- Austin Office Rent Price
- Washington Office Rent Price
- San Antonio Office Rent Price
- Charlotte Office Rent Price
- San Diego Office Rent Price
- Phoenix Office Rent Price
- Dallas Office Rent Price
- San Francisco Office Rent Price
- Miami Office Rent Price
- Los Angeles Office Rent Price
- Houston Office Rent Price
- Denver Office Rent Price
- New York City Office Rent Price
- Chicago Office Rent Price
- Seattle 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 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Albuquerque 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.