2024 Office Space Rent & Sales
- $21.91 2024 Avg. Asking Rent
- 18.97% 2024 Office Vacancy Rate
Olympia office price per square foot in 2024 was $21.91 on average. The local office market recorded an average vacancy rate of 18.97% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2024 Average Office Rent per Square Foot
- Washington Class A & A+ Office Space$43.88
- Washington Class B Office Space$28.21
- Washington Class C Office Space$20.51
Olympia, WA Office Asking Rents by Class
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2024 Office Construction in Olympia, WA
| Office building | Address | SF | Completed |
|---|---|---|---|
| 115 Eastside St NE | 115 Eastside St NE, 98506 | 4,648 | 2013 |
| Pacific Cataract & Laser Institute | 115 New View CT NE, 98506 | 111,949 | 2009 |
| Smyth Landing | 1801 W Bay Dr NW, 98502 | 23,557 | 2007 |
| 2114 Caton Way SW | 2114 Caton Way SW, 98502 | 8,784 | 2007 |
| 1115 West Bay Drive NW | 1115 West Bay Drive NW, 98502 | 35,651 | 2006 |
| 615 Lilly Road NE | 615 Lilly Road NE, 98506 | 44,408 | 2005 |
| Lilly Road Medical Office Building | 615 Lilly Road NE, 98506 | 43,440 | 2005 |
| South Sound Office Park - Lot 1 | 3711 Griffin Ln SE, 98501 | 3,096 | 2002 |
| Market Centre | 111 Market Street NE, 98501 | 45,687 | 2001 |
| 128 10th Ave SW | 128 10th Ave SW, 98501 | 54,455 | 2000 |
Worth noting among recent office completions on the Olympia market is 115 Eastside St NE, which is currently the largest new office development in the city, at 4,648 square feet.
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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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by Yardi Research Data, a market intelligence solution which offers comprehensive real market knowledge on all Olympia 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 Yardi Research Data can guarantee that the information provided is complete.