During the recent years of cascading challenges, the U.S. office market has undergone remarkable changes. And, signs of recovery are gradually emerging as we move into the new year.
CommercialSearch ranked the top 50 most expensive office submarkets in Q4 2022, using the latest data provided by CommercialEdge.
The Lower Downtown submarket in Denver landed in 38th place among the top 50 most expensive office submarkets in the U.S.
- Denver’s priciest office space was in the LoDo submarket, with figures here averaging $46 per square foot in asking rents at the close of last year.
- The Western region accounted for 31 of the top 50 entries on the list, hailing from California, Washington, and Colorado.
- Overall, Manhattan’s Plaza District holds the title of most expensive office submarket in the final quarter of 2022, with average asking rents here resting at $117 per square foot.
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