2020 Office Space Rent & Sales
- $30.40 2020 Avg. Asking Rent
- 2.56% Y-o-Y Avg. Asking Rent Change
- 14.78% 2020 Office Vacancy Rate
Lynnwood office price per square foot in 2020 was $30.40 on average. This marked a +2.56% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 14.78% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Lynnwood Class A Office Space$34.95
- Lynnwood Class B Office Space$26.76
- Washington Class A Office Space$45.83
- Washington Class B Office Space$28.37
- Washington Class C Office Space$19.66
Lynnwood, WA Office Asking Rents by Class
2020 Office Construction in Lynnwood, WA
- Lynnwood, WA Total SF completed in 2020
- Lynnwood, WA Total SF under construction in 2021 60,000
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Lynnwood 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 60,000 square feet of office space to the market, before year-end.
|4001 204th Street SW||4001 204th Street SW, 98036||63,000||2012|
|16824 44th Avenue West||16824 44th Avenue West, 98037||60,672||2009|
|Northpointe Corporate Center II||16201 25th Avenue West, 98087||70,400||2007|
|Creative Workspace||16825 48th Avenue West, 98037||42,916||2007|
|Redstone Corporate Center I||19020 33rd Avenue West, 98036||202,273||2002|
|Cypress Semiconductor Building||2700 162nd Street SW, 98087||68,760||2002|
|Virginia Mason Lynnwood Medical Center||19116 33rd Avenue West, 98036||28,185||2001|
|2122 164th Street SW||2122 164th Street SW, 98087||25,233||2001|
|Creekside Plaza||20311 52nd Avenue West, 98036||67,596||2000|
|Sparling Technology Center||4100 194th Street SW, 98036||63,225||2000|
Worth noting among recent office completions on the Lynnwood market is 4001 204th Street SW, which is currently the largest new office development in the city, at 63,000 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 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.