Colorado Ranks 8th in Top 100 Most Expensive Office Submarkets

According to a new report on the Most Expensive Office Submarkets of 2022, Colorado ranks 8th nationally.

Top 100 Most Expensive Office SUbmarkets of 2022, courtesy of PropertyShark.

Using CommercialEdge market research data, Property Shark ranked the most expensive office submarkets in the U.S. based on their average sale price per square foot in 2022.

Colorado contributed with four entries to last year’s top 100 most expensive office submarkets. The most notable Colorado entry was the Cherry Creek submarket which landed in 17th place, with an average price of $519 per square foot across five transactions.

  • Colorado’s remaining office submarkets in the top 100 were Denver’s Central Business District ($464 per sq. ft.), Boulder ($415 per sq. ft., and Longmont ($251 per sq. ft.).
  • Colorado recorded a statewide average price of $235 per square foot (above the national average of $227) across 86 transactions – placing it 8th nationally.
  • Overall, Cambridge, Mass., holds the title of 2022’s most expensive office submarket for the second year in a row, with an average sale price of $1,800 per square foot across four high-profile sales.

Read the full report here.

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