Waukesha Office Rent Price & Sales Report

Highlights

  • The average rent for office space in Waukesha is $21.94 per square foot, 11.41% lower compared to the previous year.
  • The average sale price for office space in Waukesha is $70.48 per square foot, marking an increase of 4.81% compared to 2024.
  • The market’s vacancy rate stands at 21.90%, lower than the state average of Wisconsin, which is 23.10%.

2025 Office Space Rent & Sales

  • $21.94 2025 Avg. Asking Rent
  • -11.41% Y-o-Y Avg. Asking Rent Change
  • 21.90% 2025 Office Vacancy Rate
  • $7.2M2025 Total Office Sales
  • $70.48Avg. Sale Price/SF

What is the average asking rent price for office space in Waukesha?

Average asking rents for office space here stand at $21.94 per square foot. The local office market recorded an average vacancy rate of 21.90% in 2025, unchanged from 21.90% in 2024.

Office transactions in the local market in 2025 totaled a sales volume of $7.2M across 3 sales. These transactions commanded an average sale price per square foot of $70.48.

Waukesha, WI Office Asking Rents by Class

What is the average office rent per square foot by property class in WI?

  • Avg. Asking Rent Class A & A+$23.76
  • Avg. Asking Rent Class B$19.54
  • Avg. Asking Rent Class C$15.28

For comparison, the average rent for Class A and A+ office space in Wisconsin was $23.76 per square foot. The state-wide average for Class B space was $19.54 per square foot, and Class C office spaces averaged $15.28 per square foot.

Waukesha, WI Office Indicators by Submarket

In 2025, the submarket with the lowest office vacancy rate in Waukesha was Pewaukee at 16.28%. Meanwhile, the highest office vacancy rate in the market was 27.54%, recorded in Waukesha.
Submarket Asking Rents Vacancy Rates
Waukesha $22.42 27.54%
Brookfield - Elm Grove $22.04 24.77%
Pewaukee $20.81 16.28%
Data provided by Yardi Research

Explore Top Office Markets in Wisconsin

2025 Office Sales Volume

  • $70.482025 Avg. Price per SF
  • 4.81%Y-o-Y Avg. PpSF Change
  • $7.2M2025 Office Sales Volume
  • 32025 Number of Transactions

What is the average sale price per square foot for office space in Waukesha?

Average sale prices for office space in this market recorded a +4.81% change in 2025 compared to the previous year.
Office transactions recorded in the market in 2025 averaged $70.48 per square foot. For comparison, the statewide Wisconsin average during the same time period stood at $122.92 per square foot, while the national average was $182.48 per square foot.

Waukesha, WI Sale Price per SF Trend

  • Waukesha Avg. Sale Price per SF in 2025$70.48
  • Wisconsin Avg. Sale Price per SF in 2025$122.92

What was the total office sales volume in Waukesha in 2025?

The local office market recorded 3 deals in 2025, adding up to a yearly sales volume of $7.2M.

  • Waukesha, WI Total Office Sales Volume in 2025 $7.2M
  • Waukesha, WI Total Number of Office Sales Closed in 2025 3
Data provided by Yardi Research

What are the largest recent office completions in Waukesha?

The largest recent office completion here is Center City Plaza at 69,343 square feet, completed in 1904. The next largest completions are The 251 Building and Silvernail Village Shopping Center.

Office building Address SF Completed
Silvernail Village Shopping Center 2301-2359 Silvernail Rd, 53072 44,941 2000
1575 East Racine Avenue 1575 E Racine Ave, 53186 2,076 1983
1111 S West Ave 1111 S West Ave, 53186 28,000 1965
217 Wisconsin Avenue 217 Wisconsin Avenue, 53186 28,000 1959
817 N East Ave 817 N East Ave, 53186 4,730 1930
Center City Plaza 741 North Grand Avenue, 53186 69,343 1904
The 251 Building 259 West Broadway, 53186 55,235 1900
Data provided by Yardi Research

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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.