Highlights
- The average rent for office space in Lacey is $25.80 per square foot, 3.10% lower compared to the previous year.
- The market’s vacancy rate stands at 30.08%, higher than the state average of Washington, which is 19.08%.
2025 Office Space Rent & Sales
- $25.80 2025 Avg. Asking Rent
- -3.10% Y-o-Y Avg. Asking Rent Change
- 30.08% 2025 Office Vacancy Rate
What is the average asking rent price for office space in Lacey?
Average asking rents for office space here stand at $25.80 per square foot. The local office market recorded an average vacancy rate of 30.08% in 2025, unchanged from 30.08% in 2024.
Lacey, 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 Lacey, WA
What are the largest recent office completions in Lacey?
The largest recent office completion here is The Hub at Lacey - Woodland Center Buildings at 138,003 square feet, completed in 1989. The next largest completions are 640 Woodland Square Loop SE and 6th & Woodland Building.
| Office building | Address | SF | Completed |
|---|---|---|---|
| 8685 Martin Way E | 8685 Martin Way E, 98516 | 2,205 | 2017 |
| 6th & Woodland Building | 673 Woodland Square Loop SE, 98503 | 59,990 | 2008 |
| 975 Carpenter Road NE | 975 Carpenter Road NE, 98516 | 42,600 | 2006 |
| Lacey Corporate Center | 5210 Corporate Center CT SE, 98503 | 8,300 | 2005 |
| Corporate Campus Building | 4525 Intelco Loop SE, 98503 | 45,699 | 2004 |
| BellTowne Centre | 4200 6th Ave SE, 98503 | 46,395 | 2001 |
| 640 Woodland Square Loop SE | 640 Woodland Square Loop SE, 98503 | 85,238 | 2000 |
| Northshore Corporate Center | 8613 - 8621 Martin Way E, 98516 | 12,000 | 1993 |
| The Hub at Lacey - Woodland Center Buildings | 676 Woodland Square Loop SE, 98503 | 138,003 | 1989 |
| Sixth Avenue Center - Building 3 | 4317 6th Avenue SE, 98503 | 31,317 | 1989 |
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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.