2020 Office Space Rent & Sales
- $22.22 2020 Avg. Asking Rent
- 7.18% 2020 Office Vacancy Rate
American Fork office price per square foot in 2020 was $22.22 on average. The local office market recorded an average vacancy rate of 7.18% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- American Fork Class A Office Space$22.62
- American Fork Class B Office Space$19.52
- American Fork Class C Office Space$20.23
- Utah Class A Office Space$26.67
- Utah Class B Office Space$21.54
- Utah Class C Office Space$15.37
American Fork, UT Office Asking Rents by Class
Average office rent in American Fork rested at $22.22 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 American Fork averaged $22.62 per square foot. Across all submarkets, class B office space recorded an average asking rent of $19.52 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $20.23 per square foot, on average. Comparably, statewide Utah average office rents by class in 2020 were: $26.67 per square foot for class A office space; $21.54 per square foot for class B office space; $15.37 per square foot for class C office space.
2020 Office Construction in American Fork, UT
- American Fork, UT Total SF completed in 2020
- American Fork, UT Total SF under construction in 2021 150,000
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the American Fork 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 150,000 square feet of office space to the market, before year-end.
|Utah Valley Tower||1050 South 4850 West, 84003||151,592||2021|
|Intermountain Healthcare American Fork Specialty Clinic||98 North 1100 East, 84003||85,500||2014|
|90 North Medical||1248 East 90 North, 84003||30,000||2014|
|Revere Health - American Fork Campus||1175 East 50 South, 84003||70,213||2006|
|Freedom Square||246 South 1100 East, 84003||25,560||2005|
|North Pointe Business Park - Buildings A & B||752 East 1180 South, 84003||94,511||2003|
|Scarborough I||947 South 500 East, 84003||34,650||2001|
|Courtyard Pointe II||751 East Quality Drive, 84003||27,888||2001|
|Utah Valley Business Park - 727 East Utah Valley Drive||727 East Utah Valley Drive, 84003||55,949||1998|
|Utah Valley Business Park - 772, 796 & 808 East Utah Valley Drive||772 East Utah Valley Drive, 84003||108,927||1995|
Worth noting among recent office completions on the American Fork market is Utah Valley Tower, which is currently the largest new office development in the city, at 151,592 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 American Fork 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.