Highlights
- The average rent for office space in Federal Way is $27.70 per square foot, 0.98% higher compared to the previous year.
- The market’s vacancy rate stands at 16.90%, lower than the state average of Washington, which is 19.08%.
2025 Office Space Rent & Sales
- $27.70 2025 Avg. Asking Rent
- 0.98% Y-o-Y Avg. Asking Rent Change
- 16.90% 2025 Office Vacancy Rate
What is the average asking rent price for office space in Federal Way?
Average asking rents for office space here stand at $27.70 per square foot. The local office market recorded an average vacancy rate of 16.90% in 2025, unchanged from 16.90% in 2024.
Federal Way, WA Office Asking Rents by Class
What is the average office rent per square foot by property class in WA?
- Avg. Asking Rent Class A & A+$41.77
- Avg. Asking Rent Class B$29.03
- Avg. Asking Rent Class C$21.15
For comparison, the average rent for Class A and A+ office space in Washington was $41.77 per square foot. The state-wide average for Class B space was $29.03 per square foot, and Class C office spaces averaged $21.15 per square foot.
Office Construction in Federal Way, WA
What are the largest recent office completions in Federal Way?
The largest recent office completion here is Hillside Plaza Shopping Center at 113,925 square feet, completed in 1988. The next largest completions are Cedar Park at West Campus and CHI Franciscan St. Francis Hospital - Medical Office Building.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Cedar Park at West Campus | 33455 6th Avenue South, 98003 | 48,869 | 2008 |
| Campus Park Professional Building | 33308 13th Pl S, 98003 | 6,316 | 2007 |
| Maplewood Office Building | 33915 1st Way South, 98003 | 32,374 | 2005 |
| Golden Stone Building | 33400 9th Avenue South, 98003 | 35,400 | 1999 |
| Hillside Plaza Shopping Center | 2000 South 314th Street, 98003 | 113,925 | 1988 |
| CHI Franciscan St. Francis Hospital - Medical Office Building | 34509 9th Avenue South, 98003 | 40,667 | 1987 |
| Russell Plaza | 33600 6th Avenue South, 98003 | 31,769 | 1985 |
| 33516 9th Ave S | 33516 9th Ave S, 98003 | 23,840 | 1985 |
| Parklane Executive Center | 31620 23rd Avenue South, 98003 | 40,053 | 1984 |
| Chamber of Commerce Building | 31919 1st Avenue South, 98003 | 30,098 | 1984 |
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Disclaimer
All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.
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 Yardi Research Data can guarantee that the information provided is complete.