diff --git a/packages/build/src/get-version.js b/packages/build/src/get-version.js
index 37e645c..a616926 100644
--- a/packages/build/src/get-version.js
+++ b/packages/build/src/get-version.js
@@ -12,6 +12,15 @@ export default (exp, options) => {
       // latest, use latest at build-time
       version = '';
     }
+    if (version === '^' || version === '~') {
+      // bare prefix (from workspace:^ or workspace:~), use latest at build-time with prefix
+      const prefix = version;
+      const latest = exp.versions[0];
+      if (!latest) return;
+      const p = parseVersionArray(latest.version.toArray());
+      if (p.release) return p.release;
+      return prefix === '~' ? p.tilde : p.caret;
+    }
   }
   const match = version
     ? exp.versions.find(e => e.version.satisfies(version))
diff --git a/packages/build/src/parse-options.js b/packages/build/src/parse-options.js
index 5b7614e..be006b8 100644
--- a/packages/build/src/parse-options.js
+++ b/packages/build/src/parse-options.js
@@ -31,10 +31,16 @@ export default options => {
     return config;
   });
   parsed.partials = toArray(partials);
-  parsed.dependencies = {
+  const rawDeps = {
     ...pkg.devDependencies,
     ...pkg.dependencies,
     ...pkg.peerDependencies
   };
+  parsed.dependencies = Object.fromEntries(
+    Object.entries(rawDeps).map(([name, ver]) => [
+      name,
+      ver.startsWith('workspace:') ? ver.slice('workspace:'.length) : ver
+    ])
+  );
   return parsed;
 };
diff --git a/packages/build/test/unit/get-export.test.js b/packages/build/test/unit/get-export.test.js
index a8eeff9..1563eb3 100644
--- a/packages/build/test/unit/get-export.test.js
+++ b/packages/build/test/unit/get-export.test.js
@@ -63,3 +63,13 @@ test('returns non-versioned dependency', t => {
 test('returns already versioned dependency', t => {
   t.is(t.context.getExport('lodash@5'), 'lodash@5');
 });
+
+test('handles bare ^ prefix (workspace:^)', t => {
+  t.context.options.dependencies.lodash = '^';
+  t.is(t.context.getExport('lodash'), 'lodash@^4');
+});
+
+test('handles bare ~ prefix (workspace:~)', t => {
+  t.context.options.dependencies.lodash = '~';
+  t.is(t.context.getExport('lodash'), 'lodash@~4');
+});
diff --git a/packages/build/test/unit/parse-options.test.js b/packages/build/test/unit/parse-options.test.js
new file mode 100644
index 0000000..13a53da
--- /dev/null
+++ b/packages/build/test/unit/parse-options.test.js
@@ -0,0 +1,68 @@
+import proxyquire from 'proxyquire';
+import setup from '../../../../configs/test/unit';
+
+const test = setup();
+
+const createSut = (pkg = {}) => {
+  const mockPkg = {
+    name: 'test-pkg',
+    version: '1.0.0',
+    dependencies: {},
+    devDependencies: {},
+    peerDependencies: {},
+    ...pkg
+  };
+  const mock = () => mockPkg;
+  mock.default = mock;
+  return proxyquire('../../src/parse-options', {
+    './get-package': mock
+  }).default;
+};
+
+test('strips workspace: protocol from dependencies', t => {
+  const sut = createSut({
+    dependencies: {
+      '@wsb/guac-widget-core': 'workspace:*',
+      '@wsb/guac-dials': 'workspace:^1.7.1',
+      '@wsb/guac-widget-shared': 'workspace:~1.7.11',
+      'lodash': '^4.17.21'
+    }
+  });
+  const result = sut({});
+  t.is(result.dependencies['@wsb/guac-widget-core'], '*');
+  t.is(result.dependencies['@wsb/guac-dials'], '^1.7.1');
+  t.is(result.dependencies['@wsb/guac-widget-shared'], '~1.7.11');
+  t.is(result.dependencies['lodash'], '^4.17.21');
+});
+
+test('handles workspace:^ shorthand', t => {
+  const sut = createSut({
+    devDependencies: {
+      'react': 'workspace:^'
+    }
+  });
+  const result = sut({});
+  t.is(result.dependencies['react'], '^');
+});
+
+test('handles workspace:~ shorthand', t => {
+  const sut = createSut({
+    peerDependencies: {
+      'react': 'workspace:~'
+    }
+  });
+  const result = sut({});
+  t.is(result.dependencies['react'], '~');
+});
+
+test('merges all dependency types with workspace stripping', t => {
+  const sut = createSut({
+    dependencies: { a: '1.0.0' },
+    devDependencies: { b: 'workspace:^2.0.0' },
+    peerDependencies: { c: '3.0.0' }
+  });
+  const result = sut({});
+  t.is(result.dependencies.a, '1.0.0');
+  t.is(result.dependencies.b, '^2.0.0');
+  t.is(result.dependencies.c, '3.0.0');
+});