2022 Office Space Rent & Sales
- $24.92 2022 Avg. Asking Rent
- 7.51% 2022 Office Vacancy Rate
Vancouver office price per square foot in 2022 was $24.92 on average. The local office market recorded an average vacancy rate of 7.51% across all asset classes combined.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Vancouver Class A & A+ Office Space$26.00
- Vancouver Class B Office Space$28.63
- Vancouver Class C Office Space$14.69
- Washington Class A & A+ Office Space$47.56
- Washington Class B Office Space$30.70
- Washington Class C Office Space$21.02
Vancouver, WA Office Asking Rents by Class
Average office rent in Vancouver rested at $24.92 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 Vancouver averaged $26.00 per square foot. Across all submarkets, class B office space recorded an average asking rent of $28.63 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $14.69 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 Vancouver
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Outlying Clark County | $29.03 | 26.06% |
Vancouver | $24.92 | 7.60% |
Coworking Spaces in Washington
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2022 Office Construction in Vancouver, WA
- Vancouver, WA Total SF completed in 2022 79,000
During 2022, 79,000 square feet of new office space were delivered across the market. At the close of 2022, the Vancouver office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 79,000 square feet of office space.
Office building | Address | SF | Completed |
---|---|---|---|
The Vantage at Columbia Palisades Office | SE 192nd at SE Brady Road, 98607 | 25,000 | 2022 |
Columbia Tech Center - Building 687 | 18405 SE Mill Plain Blvd, 98683 | 29,041 | 2021 |
192nd Station | 1625 SE 192nd Ave, 98607 | 35,503 | 2019 |
City Hall Building | 415 West 6th Street, 98660 | 118,500 | 2008 |
Columbia Tech Center - Building 31 | 17200 SE Mill Plain Blvd, 98683 | 52,856 | 2007 |
Columbia Tech Center - Buildings 47 & 48 | 17700 SE Mill Plain Blvd, 98683 | 50,306 | 2006 |
VancouverCenter | 700 Washington Street, 98660 | 108,248 | 2004 |
Columbia Tech Center - Building 16 | 1211 SE Cardinal Court, 98683 | 42,778 | 2004 |
Columbia Tech Center - Building 13 | 1201 SE Tech Center Drive, 98683 | 46,167 | 1999 |
Columbia Tech Center - Building 12 | 1301 SE Tech Center Drive, 98683 | 34,625 | 1999 |
Worth noting among recent office completions on the Vancouver market is The Vantage at Columbia Palisades Office, which is currently the largest new office development in the city, at 25,000 square feet.
See reports for other markets
- Seattle Office Rent Price
- Bellevue Office Rent Price
- Spokane Office Rent Price
- Tacoma Office Rent Price
- Redmond Office Rent Price
- Bothell Office Rent Price
- Olympia Office Rent Price
- Kirkland Office Rent Price
- San Francisco Office Rent Price
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- Houston Office Rent Price
- San Diego Office Rent Price
- New York City Office Rent Price
- Miami Office Rent Price
- Los Angeles Office Rent Price
- San Antonio 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 Vancouver 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.