El Paso Office Market Trends

Office Rental Market

  • $24.63 2019 Avg. Asking Rent
  • 7.52 % 2019 Avg. Vacancy Rate
  • 0 2019 Office Completions (Sqft)
  • 425,584 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in El Paso was $24.63 per square foot, and the office vacancy rate across the market averaged 7.52 %. During 2019, developers added 0 square feet of new office space to the El Paso market inventory. Office developments estimated for delivery during 2020 total 425,584 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • El Paso Class A Office Buildings$30.92
  • El Paso Class B Office Buildings$19.83
  • El Paso Class C Office Buildings$17.96
  • TX Class A Office Buildings$34.48
  • TX Class B Office Buildings$23.32
  • TX Class C Office Buildings$16.03

El Paso, TX Office Asking Rents by Class

Office asking rents vary across the El Paso office market depending on several factors, one of which is property class. While rents for Class A office buildings in El Paso averaged $30.92 per square foot in 2019, Class B office properties garnered average rental rates of $19.83 per square foot. Rental rates for Class C office property in El Paso averaged $17.96 per square foot. On a statewide level, Class B office space rents averaged $23.32 per square foot, while rents for Class A office space across Texas averaged $34.48 per square foot. On average, Class C office properties in Texas commanded rents of $16.03 per square foot.

2019 OFFICE VACANCY RATES

Submarket Asking Rents Vacancy Rates
Northwest $29.60 9.57 %
East $20.93 6.14 %
Data provided by Commercial Edge
  • The lowest office vacancy rate in 2019 in El Paso was 6.14 % in the East submarket, where asking rents averaged $20.93.
  • The highest office vacancy rate in 2019 in El Paso was 9.57 % in the Northwest submarket, where asking rents averaged $29.60.

OFFICE CONSTRUCTION IN El Paso, TX

  • El Paso, TX Total Sqft completed in 2019 0
  • El Paso, TX Total Sqft under construction in 2020 425,584
10 Largest Office Buildings in El Paso
Building name Address Total Sqft Year built
Stanton Tower 100 North Stanton Street, 79901 415,100 1979
One San Jacinto Plaza 201 East Main Street, 79901 351,270 1963
Wells Fargo Plaza 221 North Kansas Street, 79901 325,092 1971
WestStar Tower 601 North Mesa Street, 79901 275,025 2021
Anson Mills Building 303 North Oregon Street, 79901 160,000 1910
660 South Mesa Hills Drive 660 South Mesa Hills Drive, 79912 155,725 1997
7650 San Felipe Drive 7650 San Felipe Drive, 79912 150,000 2015
The Cortez Building 310 North Mesa Street, 79901 147,462 1984
1851 North Resler Drive 1851 North Resler Drive, 79912 143,828 2007
The Centre Building 123 West Mills Avenue, 79901 139,000 2001
Largest Office Properties Recently Completed in El Paso
Office building Address Sqft Completed
WestStar Tower 601 North Mesa Street, 79901 275,025 2021
1235 Airway Blvd 1235 Airway Blvd, 79925 40,794 2020
1014 North Stanton Street 1014 North Stanton Street, 79902 40,360 2020
Dieter Medical Office Building 1387 George Dieter Drive, 79936 52,400 2018
El Paso Area Teachers Federal Credit Union - Operation Center 1241 Pullman Drive, 79936 32,000 2018
The Hospitals of Providence Transmountain Campus - Medical Office Building 2000 Transmountain Road, 79911 110,000 2016
11577 Pellicano Drive 11577 Pellicano Drive, 79936 83,504 2016
7650 San Felipe Drive 7650 San Felipe Drive, 79912 150,000 2015
Cardwell Collaborative Building 5130 Gateway Blvd East, 79905 60,000 2015
Ventanas Corporate Center - Buildings 3, 4, 5 & 6 3801 Constitution Avenue, 79912 43,000 2014
Data provided by Commercial Edge

Office Spaces for Rent in Texas

See trends for nearby markets

The El Paso office market contains an inventory of 7,278,919 square feet of office space, in 149 buildings that are equal to or larger than 25,000 square feet.

This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive 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.