2020 Office Space Rent & Sales
- $22.45 2020 Avg. Asking Rent
- 1.76% Y-o-Y Avg. Asking Rent Change
- 13.78% 2020 Office Vacancy Rate
- $245M2020 Total Office Sales
- $177.65Avg. Sale Price/SF
Beaverton office price per square foot in 2020 was $22.45 on average. This marked a +1.76% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 13.78% across all asset classes combined. The 4 transactions that closed here throughout 2020 amounted to a total sale volume of $245M. Beaverton office space commanded an average sale price per square foot of $177.65.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Beaverton Class A Office Space$24.58
- Beaverton Class B Office Space$22.30
- Beaverton Class C Office Space$17.94
- Oregon Class A Office Space$37.50
- Oregon Class B Office Space$26.39
- Oregon Class C Office Space$18.76
Beaverton, OR Office Asking Rents by Class
Average office rent in Beaverton rested at $22.45 per square foot in 2020. 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 Beaverton averaged $24.58 per square foot. Across all submarkets, class B office space recorded an average asking rent of $22.30 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $17.94 per square foot, on average. Comparably, statewide Oregon average office rents by class in 2020 were: $37.50 per square foot for class A office space; $26.39 per square foot for class B office space; $18.76 per square foot for class C office space.
2020 Office Vacancy Rates in Beaverton
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Beaverton | $23.39 | 13.01% |
Sunset Corridor | $22.05 | 14.22% |
Beaverton Office Sale Price per SF
- $177.652020 Avg. Price per SF
- 2.56%Y-o-Y Avg. PpSF Change
- $245M2020 Office Sales Volume
- 42020 Number of Transactions
Beaverton, OR Sale Price per SF Trend
- Beaverton Avg. Sale Price per SF in 2020$177.65
- Oregon Avg. Sale Price per SF in 2020$329.92
2020 Office Sales Volume
- Beaverton, OR Total Office Sales Volume in 2020 $245M
- Beaverton, OR Total Number of Office Sales Closed in 2020 4
Largest Beaverton Office Sales in 2020
Property name | Address | Date | Price |
---|---|---|---|
Nimbus Corporate Center - Buildings 13, 14, 15 & 16 | 9600 SW Nimbus Avenue | 10/16/2020 | $31,457,220 |
Nimbus Corporate Center - Buildings 10, 11 & 12 | 9305 SW Nimbus Avenue | 10/16/2020 | $26,483,260 |
Nimbus Corporate Center - Buildings 1 & 2 | 9595 SW Gemini Drive | 10/16/2020 | $19,565,760 |
Beaverton Creek - Buildings 19 & 20 | 2555 SW 153rd Drive | 9/17/2020 | $15,500,000 |
AmberGlen Business Center - Buildings 9025 & 9170 | 9025 NE Von Neumann Drive | 1/15/2020 | $14,530,350 |
2020 Office Construction in Beaverton, OR
- Beaverton, OR Total SF completed in 2020
- Beaverton, OR Total SF under construction in 2021 762,000
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Beaverton office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 762,000 square feet of office space to the market, before year-end.
Office building | Address | SF | Completed |
---|---|---|---|
Nike World Headquarters - Serena Williams Building | 1 Bowerman Drive, 97006 | 1,000,000 | 2021 |
Nike World Headquarters - Sebastian Coe Building | 1 One Bowerman Drive, 97006 | 475,000 | 2019 |
Kaiser Permanente Beaverton Medical & Dental Office | 4855 SW Western Avenue, 97005 | 90,000 | 2018 |
Cornell Oaks Office Building | 15425 NW Greenbrier Pkwy, 97006 | 60,000 | 2017 |
14747 NW Greenbrier Pkwy | 14747 NW Greenbrier Pkwy, 97006 | 87,250 | 2006 |
15700 SW Greystone Court | 15700 SW Greystone Court, 97006 | 54,438 | 2006 |
Michael E. Osborne Building | 15500 SW Beaverton Creek Court, 97003 | 50,000 | 2006 |
Plaza at the Round | 4145 SW Watson Avenue, 97005 | 123,704 | 2003 |
217 Corporate Place | 6600 SW 105th Avenue, 97008 | 50,000 | 2003 |
Nike World Headquarters - 15625 & 15725 SW Greystone Court | 15625 SW Greystone Court, 97006 | 96,440 | 2001 |
Worth noting among recent office completions on the Beaverton market is Nike World Headquarters - Serena Williams Building, which is currently the largest new office development in the city, at 1,000,000 square feet.
See reports for nearby markets
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 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Beaverton 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.