2022 Office Space Rent & Sales
- $46.62 2022 Avg. Asking Rent
- -0.04% Y-o-Y Avg. Asking Rent Change
- 31.95% 2022 Office Vacancy Rate
- $95.1M2022 Total Office Sales
- $173.41Avg. Sale Price/SF
Renton office price per square foot in 2022 was $46.62 on average. This marked a -0.04% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 31.95% across all asset classes combined. The 4 transactions that closed here throughout 2022 amounted to a total sale volume of $95.1M. Renton office space commanded an average sale price per square foot of $173.41.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Renton Class A & A+ Office Space$52.38
- Renton Class B Office Space$30.75
- Washington Class A & A+ Office Space$47.56
- Washington Class B Office Space$30.70
- Washington Class C Office Space$21.02
Renton, WA Office Asking Rents by Class
Renton Office Sale Price per SF
- $173.412022 Avg. Price per SF
- 22.70%Y-o-Y Avg. PpSF Change
- $95.1M2022 Office Sales Volume
- 42022 Number of Transactions
Renton, WA Sale Price per SF Trend
- Renton Avg. Sale Price per SF in 2022$173.41
- Washington Avg. Sale Price per SF in 2022$429.34
2022 Office Sales Volume
- Renton, WA Total Office Sales Volume in 2022 $95.1M
- Renton, WA Total Number of Office Sales Closed in 2022 4
Largest Renton Office Sales in 2022
Property name | Address | Date | Price |
---|---|---|---|
500 Rivertech | 500 Naches Avenue SW | 8/26/2022 | $11,104,000 |
Coworking Spaces in Washington
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2022 Office Construction in Renton, WA
Office building | Address | SF | Completed |
---|---|---|---|
Valley Medical Pavilion | 4009 Talbot Road, 98055 | 150,000 | 2020 |
Southport on Lake Washington - Building 1 | 1101 Lake Washington Blvd North, 98056 | 246,764 | 2019 |
Southport on Lake Washington - Building 2 | 1101 Lake Washington Blvd North, 98056 | 243,815 | 2019 |
Southport on Lake Washington - Building 3 | 1101 Lake Washington Blvd North, 98056 | 213,221 | 2019 |
Valley View Medical Park Building | 350 South 38th Court, 98055 | 37,882 | 2009 |
Newcastle Professional Center | 12835 Newcastle Way, 98056 | 15,903 | 2008 |
IDC Medical Plaza | 1412 SW 43rd Street, 98057 | 60,916 | 2004 |
600 & 606 Oakesdale Avenue SW, 1300 SW 7th Street | 600 Oakesdale Avenue SW, 98057 | 95,315 | 2001 |
South 405 Place | 900 SW 16th Street, 98057 | 52,000 | 2001 |
Renton Park 405 | 801 SW 16th Street, 98057 | 436,853 | 1997 |
Worth noting among recent office completions on the Renton market is Valley Medical Pavilion, which is currently the largest new office development in the city, at 150,000 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
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- New York City 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 Renton 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.