Beaverton Office Rent Price & Sales Report

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%
Data provided by Commercial Edge
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 Beaverton market was 13.78% in 2020. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Beaverton was 13.01% in the Beaverton submarket, while the highest office vacancy in the market was 14.22%, recorded in Sunset Corridor.

Office Spaces for Rent in Oregon

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
Beaverton office space cost in 2020 marked a +2.56% change compared to the previous year. The sale price for office space in Beaverton averaged $177.65 per square foot in 2020, across all market subdivisions and asset classes. Conversely, the statewide Oregon average office sale price during the same time period was $329.92 per square foot.

2020 Office Sales Volume

  • Beaverton, OR Total Office Sales Volume in 2020 $245M
  • Beaverton, OR Total Number of Office Sales Closed in 2020 4
A total of 4 deals closed on the Beaverton office market in 2020, adding up to a yearly sales volume of $245M. Notably, the largest transaction on the market saw Nimbus Corporate Center - Buildings 13, 14, 15 & 16 change hands for $31,457,220 on 10/16/2020.

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
Data provided by Commercial Edge

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.

Largest Office Properties Recently Completed in Beaverton
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.

Data provided by Commercial Edge

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.