Highlights
- The average rent for office space in Lynnwood is $28.99 per square foot, 4.32% higher compared to the previous year.
- The market’s vacancy rate stands at 22.59%, higher than the state average of Washington, which is 19.08%.
2025 Office Space Rent & Sales
- $28.99 2025 Avg. Asking Rent
- 4.32% Y-o-Y Avg. Asking Rent Change
- 22.59% 2025 Office Vacancy Rate
What is the average asking rent price for office space in Lynnwood?
Average asking rents for office space here stand at $28.99 per square foot. The local office market recorded an average vacancy rate of 22.59% in 2025, unchanged from 22.59% in 2024.
Lynnwood, 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.
Lynnwood, WA Office Indicators by Submarket
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Lynnwood | $29.52 | 17.31% |
| Everett | $28.41 | 13.49% |
What are the largest recent office completions in Lynnwood?
The largest recent office completion here is Redstone at 209,410 square feet, completed in 2002. The next largest completions are Alderwood Business Center and Northview Corporate Center.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Northpointe Corporate Center II | 16201 25th Avenue West, 98087 | 70,400 | 2007 |
| Northpointe Corporate Center | 16201 25th Avenue West, 98087 | 70,400 | 2007 |
| 3909 164th St SW | 3909 164th St SW, 98087 | 5,800 | 2003 |
| Redstone | 19020 33rd Ave W, 98036 | 209,410 | 2002 |
| 2122 164th Street SW | 2122 164th Street SW, 98087 | 25,233 | 2001 |
| Sparling Technology Center | 4100 194th Street SW, 98036 | 63,225 | 2000 |
| Northview Corporate Center | 20700 44th Avenue West, 98036 | 182,009 | 1991 |
| 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 |
See reports for other markets
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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.