Amarillo Office Rent Price & Sales Report

2021 Office Space Rent & Sales

  • $15.84 2021 Avg. Asking Rent
  • 7.03% 2021 Office Vacancy Rate

Amarillo office price per square foot in 2021 was $15.84 on average. The local office market recorded an average vacancy rate of 7.03% across all asset classes combined.

Average Rent by Office Class

2021 Average Office Rent per Square Foot

  • Amarillo Class A & A+ Office Space$20.94
  • Amarillo Class B Office Space$15.98
  • Amarillo Class C Office Space$10.40
  • Texas Class A & A+ Office Space$35.57
  • Texas Class B Office Space$23.85
  • Texas Class C Office Space$18.04

Amarillo, TX Office Asking Rents by Class

Average office rent in Amarillo rested at $15.84 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 Amarillo averaged $20.94 per square foot. Across all submarkets, class B office space recorded an average asking rent of $15.98 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $10.40 per square foot, on average. Comparably, statewide Texas average office rents by class in 2021 were: $35.57 per square foot for class A office space; $23.85 per square foot for class B office space; $18.04 per square foot for class C office space.

2021 Office Vacancy Rates in Amarillo

Submarket Asking Rents Vacancy Rates
Amarillo - Southwest $16.09 10.41%
Amarillo - Central $15.98 6.34%
Amarillo - Northwest $15.27 6.61%
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 Amarillo market was 7.03% in 2021. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Amarillo was 6.34% in the Amarillo - Central submarket, while the highest office vacancy in the market was 10.41%, recorded in Amarillo - Southwest.

Office Spaces for Rent in Texas

Coworking Spaces in Texas

2021 Office Construction in Amarillo, TX

Largest Office Properties Recently Completed in Amarillo
Office building Address SF Completed
Paradise Villa's Office Park 3701 Business Park Drive, 79110 4,500 2023
7845 Canyon Dr 7845 Canyon Dr, 79110 8,093 2017
7845 Canyon Drive Unit 1 7845 Canyon Drive Unit 1, 79110 2,000 2017
3350 Olsen 3350 Olsen, 79109 25,250 2015
Restaurant Space Available 4104 I-40, 79102 4,339 2014
6822 Plum Creek Dr. 6822 Plum Creek Dr., 79124 5,741 2004
Valero Credit Services Center 7201 Canyon Dr, 79110 34,585 2003
WHA Building 1301 South Coulter Street, 79106 81,180 2001
500 Quail Creek Dr 500 Quail Creek Dr, 79124 6,765 2001
500 Quail Creek Dr 500 Quail Creek Dr, 79124 6,765 2001

Worth noting among recent office completions on the Amarillo market is Paradise Villa's Office Park, which is currently the largest new office development in the city, at 4,500 square feet.

Data provided by Commercial Edge

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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 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 Amarillo 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.