2021 Office Space Rent & Sales
- $25.41 2021 Avg. Asking Rent
- 2.57% Y-o-Y Avg. Asking Rent Change
- 9.48% 2021 Office Vacancy Rate
- $23.9M2021 Total Office Sales
- $158.97Avg. Sale Price/SF
El Paso office price per square foot in 2021 was $25.41 on average. This marked a +2.57% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 9.48% across all asset classes combined. The 3 transactions that closed here throughout 2021 amounted to a total sale volume of $23.9M. El Paso office space commanded an average sale price per square foot of $158.97.
Average Rent by Office Class
2021 Average Office Rent per Square Foot
- El Paso Class A & A+ Office Space$30.31
- El Paso Class B Office Space$21.06
- El Paso Class C Office Space$18.24
- Texas Class A & A+ Office Space$35.57
- Texas Class B Office Space$23.85
- Texas Class C Office Space$18.04
El Paso, TX Office Asking Rents by Class
Average office rent in El Paso rested at $25.41 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 El Paso averaged $30.31 per square foot. Across all submarkets, class B office space recorded an average asking rent of $21.06 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $18.24 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.
Office Spaces for Rent in Texas
- Houston Office Space
- Austin Office Space
- San Antonio Office Space
- Dallas Office Space
- Fort Worth Office Space
- Plano Office Space
- Irving Office Space
- Richardson Office Space
- Round Rock Office Space
- El Paso Office Space
- Georgetown Office Space
- Frisco Office Space
- Arlington Office Space
- Lubbock Office Space
- Sugar Land Office Space
El Paso Office Sale Price per SF
- $158.972021 Avg. Price per SF
- 15.12%Y-o-Y Avg. PpSF Change
- $23.9M2021 Office Sales Volume
- 32021 Number of Transactions
El Paso, TX Sale Price per SF Trend
- El Paso Avg. Sale Price per SF in 2021$158.97
- Texas Avg. Sale Price per SF in 2021$261.88
2021 Office Sales Volume
- El Paso, TX Total Office Sales Volume in 2021 $23.9M
- El Paso, TX Total Number of Office Sales Closed in 2021 3
Largest El Paso Office Sales in 2021
| Property name | Address | Date | Price |
|---|---|---|---|
| 4301 North Mesa Street | 4301 North Mesa Street | 1/19/2021 | $9,900,000 |
| 11950 Don Haskins Drive | 11950 Don Haskins Drive | 8/20/2021 | $8,707,000 |
| Courtyard Building, The | 7500 Viscount Blvd | 12/1/2021 | $5,337,000 |
Coworking Spaces in Texas
- Houston Coworking Space
- Dallas Coworking Space
- Austin Coworking Space
- San Antonio Coworking Space
- Plano Coworking Space
- Fort Worth Coworking Space
- Irving Coworking Space
- Frisco Coworking Space
- Sugar Land Coworking Space
- Arlington Coworking Space
- Katy Coworking Space
- Lubbock Coworking Space
- McKinney Coworking Space
- Richardson Coworking Space
- Spring Coworking Space
- Allen Coworking Space
- El Paso Coworking Space
- Coppell Coworking Space
- Denton Coworking Space
- Grapevine Coworking Space
2021 Office Construction in El Paso, TX
- El Paso, TX Total SF completed in 2021 264,000
- El Paso, TX Total SF under construction in 2022 38,800
During 2021, 264,000 square feet of new office space were delivered across the market. At the close of 2021, the El Paso office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 264,000 square feet of office space. Looking forward, development activity throughout 2022 is estimated to add 38,800 square feet of office space to the market, before year-end.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Endeavors El Paso Veteran Wellness Center | 12135 Pebble Hills Blvd, | 40,000 | 2023 |
| WestStar Tower | 601 North Mesa Street, 79901 | 276,000 | 2021 |
| Carefree Town Center | 1265 Joe Battle Blvd, 79936 | 32,154 | 2018 |
| Medical Office Condo George Dieter FOR LEASE | 1397 George Dieter, 79936 | 16,725 | 2018 |
| 210 Montoya Road | 210 Montoya Road, 79932 | 58,450 | 2015 |
| 4501 Osborne Dr | 4501 Osborne Dr, 79922 | 8,000 | 2015 |
| 3821 Constitution Drive | 3821 Constitution Dr, 79922 | 92,888 | 2012 |
| 401 East Main Drive | 401 East Main Drive, 79901 | 30,885 | 2012 |
| 1340 Adabel Dr | 1340 Adabel Dr, 79936 | 16,000 | 2009 |
| 1440 George Dieter Dr | 1440 George Dieter Dr, 79936 | 11,104 | 2007 |
Worth noting among recent office completions on the El Paso market is Endeavors El Paso Veteran Wellness Center, which is currently the largest new office development in the city, at 40,000 square feet.
See reports for other markets
- Houston Office Rent Price
- Austin Office Rent Price
- San Antonio Office Rent Price
- Dallas Office Rent Price
- Fort Worth Office Rent Price
- Plano Office Rent Price
- Irving Office Rent Price
- Richardson Office Rent Price
- The Woodlands Office Rent Price
- Arlington Office Rent Price
- Albuquerque Office Rent Price
- Santa Fe Office Rent Price
- San Diego Office Rent Price
- San Francisco Office Rent Price
- Washington Office Rent Price
- Denver 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 El Paso 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.