Colorado Springs, CO Office Overview
The Colorado Springs real estate market includes the Falcon Estates, Gateway Park, and Kissing Camels submarkets. With a metropolitan population of just under 700,000 residents, Colorado Springs is the second-most populous city in the State of Colorado, right behind Denver. The extensive presence of the defense, aerospace industries, high technology and education create a powerful demand for Class A space in the city.
As of mid-2017, the Colorado Springs commercial real estate market encompasses just over 12 million square feet of office space.
Colorado Springs, CO Office Inventory Description
The tourism & outdoor recreation industry is another economic driver, with sites such as Pikes Peak, the United States Olympic Training Center, and the USA Hockey headquarters. With a gross metropolitan product of over $32 billion annually, the demand for white collar workspaces is consistently robust. Just under 19% of the office space is Class A, with Class B product adding another nearly 19 million square feet of inventory to the commercial real estate market in the metro area.
The Pine Creek, located south of Old Ranch Road and west of Route 21, is home to investment-grade buildings such as the Briargate Office Center on Telstar Drive, the PrimeCenter at Briargate - Buildings A, B & C, and the Research Corporate Center at 8610 Explorer Drive.
Colorado Springs, CO Commercial Inventory Breakdown
Office Spaces
Total: 15,008,761 SF
By square footage range:
- 50k to 100k SF: 4,618,992 SF / 30.78% of total office
- 100k to 500k SF: 9,665,683 SF / 64.4% of total office
- 500k to 1M SF: 724,086 SF / 4.82% of total office
By class:
- Class A: 5,146,297 SF / 34.29% of total office
- Class B: 8,747,320 SF / 58.28% of total office
- Class C: 907,419 SF / 6.05% of total office
Top 10 Largest Office Buildings
in Colorado Springs
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Garden of the Gods Business Park | 2424 Garden of the Gods Road, 80919 | 724,086 | 1983 |
| Plaza of The Rockies | 111 South Tejon Street, 80903 | 467,352 | 1983 |
| 1855 Telstar Drive | 1855 Telstar Drive, 80920 | 436,385 | 1992 |
| Progressive Insurance Call Center | 12710 Voyager Pkwy, 80921 | 322,000 | 2003 |
| 305 South Rockrimmon Blvd | 305 South Rockrimmon Blvd, 80919 | 301,559 | 1985 |
| Ent Credit Union New HQ | 9480 Federal Drive, 80920 | 300,000 | 2021 |
| Chidlaw Building | 2221 East Bijou Street, 80909 | 300,000 | 1993 |
| Colorado Springs Investor Center | 2216 Briargate Pkwy, 80920 | 290,000 | 1999 |
| 8145 & 8245 North Union Blvd | 8245 North Union Blvd, 80920 | 286,650 | 1984 |
| Interquest Office Campus - Building A & Building B | 10125 Federal Drive, 80920 | 284,166 | 1998 |
Most Recently-Built Office Buildings
in Colorado Springs
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Centura Health Urgent Care - Broadmoor | 1263 Lake Plaza Drive, 80906 | 31,338 | 2015 |
| 3141 Centennial Blvd | 3141 Centennial Blvd, 80907 | 76,731 | 2014 |
| Pinnacle Eye Center Campus | 2770 North Union Blvd, 80909 | 48,328 | 2012 |
| Medical Center at Penrose | 2312 North Nevada Avenue, 80907 | 71,000 | 2011 |
| 2405 Research Pkwy | 2405 Research Pkwy, 80920 | 32,056 | 2009 |
| Epic One | 10807 New Allegiance Drive, 80921 | 145,694 | 2008 |
| Patriot Park VII | 565 Space Center Drive, 80915 | 89,624 | 2008 |
| Bancorp Plaza | 1 South Nevada Avenue, 80903 | 54,429 | 2008 |
| InterQuest Hybrid II | 9925 Federal Drive, 80921 | 53,788 | 2008 |
| Medical Pavilion at Briargate | 4105 Briargate Pkwy, 80920 | 170,000 | 2007 |
Colorado Springs, CO Green Office Space
Colorado Springs is home to some of the most environmentally conscious people in the entire U.S., so it's no surprise that the demand for green office space is growing by leaps and bounds. One example of a LEED-certified building is the Patriot Park VII. With nearly 90,000 square feet of space, this project was built in 2008 and is in the Rustic Hills submarket. The building holds the difficult-to-obtain LEED Gold certification.
The percentage of energy-efficient space throughout the major commercial real estate markets in the U.S. has grown significantly over the past 12 years. According to the 2017 National Green Building Adoption Index, across the top 30 office markets in the U.S. the percentage of green buildings has increased to about 38% by mid-year 2017. The survey looked at all workspaces with LEED, Energy Star, or green building certifications. Currently about 7% of the total office inventory in Colorado Springs is green.
Colorado Springs, CO's Top Office-Using Sectors
The commercial real estate market in Colorado Springs is growing in large part due to demand from the aerospace & defense, high technology, and tourism sectors.
- Aerospace & Defense – businesses such as Fort Carson, Peterson Air Force Base, Schriever Air Force Base, NORAD, the U.S. Air Force Academy, Boeing, General Dynamics, and the Harris Corporation.
- High Technology – companies such as Verizon Business, Hewlett-Packard, SAN, and Cypress Semiconductor.
- Tourism – Numerous service businesses support the visitors that come throughout the year to view attractions such as the Garden of the Gods, the Cheyenne Mountain Zoo, and Old Colorado City.
- Corporate Office – companies such as SAIC, ITT, L-3 Communications, the Space Foundation, and Microchip Technology.
FREQUENTLY ASKED QUESTIONS
How much does office space cost in Colorado Springs, CO?
The average office rental rate in Colorado Springs, CO is $15.23 per square foot. Asking prices vary based on the property’s location, overall rating, amenities, proximity to restaurants, cafes and entertainment venues, as well as public transport, airports and highways.
What is the size of available office spaces in Colorado Springs, CO?
The Colorado Springs, CO office market can accommodate various businesses, sporting a range of office space availabilities. The average size of office space availabilities is 57,712 square feet. If you’re just starting out as a company or as an entrepreneur, the smallest available office space in Colorado Springs, CO is 174 square feet, while the maximum rentable space on the market now is 115,250 square feet.
How do I get office space in Colorado Springs, CO?
Start your search for office space in Colorado Springs, CO by using our filters that allow you to find the best space for your business needs. Filter listings by location, property size, available space or lease rate. Property pages will offer details about an office building’s rating, year built, availabilities, price per square foot and more. After drawing up a shortlist, make sure you contact the listed broker(s) to schedule a viewing and begin the negotiation process for your lease contract.
How many office listings are available in Colorado Springs, CO?
There are 174 office listings on the Colorado Springs, CO market.
Colorado Springs Demographics
Population
- Total Population457,502
- Male Population(50.0 %) 228,586
- Female Population(50.0 %) 228,916
- Median Age34.60
Income/Financial
- Average Household Income$80,755
- Median Household Income$61,324
- Median Income Under 25$36,576
- Median Income 25-44$62,806
- Median Income 45-64$76,035
- Median Income Over 65$49,212
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