2022 Office Space Rent & Sales
- $30.45 2022 Avg. Asking Rent
- 1.95% Y-o-Y Avg. Asking Rent Change
- 30.53% 2022 Office Vacancy Rate
Lynnwood office price per square foot in 2022 was $30.45 on average. This marked a +1.95% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 30.53% across all asset classes combined.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Lynnwood Class A & A+ Office Space$34.30
- Lynnwood Class B Office Space$28.93
- Lynnwood Class C Office Space$24.17
- Washington Class A & A+ Office Space$47.56
- Washington Class B Office Space$30.70
- Washington Class C Office Space$21.02
Lynnwood, WA Office Asking Rents by Class
Average office rent in Lynnwood rested at $30.45 per square foot in 2022. 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 Lynnwood averaged $34.30 per square foot. Across all submarkets, class B office space recorded an average asking rent of $28.93 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $24.17 per square foot, on average. Comparably, statewide Washington average office rents by class in 2022 were: $47.56 per square foot for class A office space; $30.70 per square foot for class B office space; $21.02 per square foot for class C office space.
2022 Office Vacancy Rates in Lynnwood
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Lynnwood | $31.38 | 24.41% |
Everett | $22.89 | 9.29% |
Coworking Spaces in Washington
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Office building | Address | SF | Completed |
---|---|---|---|
Northpointe Corporate Center I | 15815 25th Avenue West, 98087 | 87,385 | 2007 |
Northpointe Corporate Center II | 16201 25th Avenue West, 98087 | 70,400 | 2007 |
21313 & 21323 68th Avenue West | 21313 68th Avenue West, 98036 | 28,369 | 2005 |
Redstone Corporate Center I | 19020 33rd Avenue West, 98036 | 202,273 | 2002 |
2122 164th Street SW | 2122 164th Street SW, 98087 | 25,233 | 2001 |
Sparling Technology Center | 4100 194th Street SW, 98036 | 63,225 | 2000 |
Lynnwood Corporate Center | 19401 40th Ave W, 98036 | 73,100 | 1989 |
Lynnwood Corporate Center | 19401 40th Avenue West, 98036 | 73,073 | 1989 |
19000 33rd Avenue West | 19000 33rd Avenue West, 98036 | 30,884 | 1989 |
Alderwood Business Center | 3400 188th Street SW, 98037 | 198,304 | 1986 |
Worth noting among recent office completions on the Lynnwood market is Northpointe Corporate Center I, which is currently the largest new office development in the city, at 87,385 square feet.
See reports for other markets
- Seattle Office Rent Price
- Bellevue Office Rent Price
- Spokane Office Rent Price
- Tacoma Office Rent Price
- Vancouver Office Rent Price
- Redmond Office Rent Price
- Bothell Office Rent Price
- Olympia Office Rent Price
- Kirkland Office Rent Price
- San Francisco Office Rent Price
- Washington Office Rent Price
- Charlotte Office Rent Price
- Miami Office Rent Price
- Atlanta Office Rent Price
- Houston Office Rent Price
- Austin 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 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Lynnwood 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.