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Berkeley Office Rent Price & Sales Report

2020 Office Space Rent & Sales

  • $42.09 2020 Avg. Asking Rent
  • 2.68% Y-o-Y Avg. Asking Rent Change
  • 9.51% 2020 Office Vacancy Rate

Berkeley office price per square foot in 2020 was $42.09 on average. This marked a +2.68% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 9.51% across all asset classes combined.

Average Rent by Office Class

2020 Average Office Rent per Square Foot

  • Berkeley Class B Office Space$42.18
  • Berkeley Class C Office Space$39.33
  • California Class A Office Space$55.92
  • California Class B Office Space$35.12
  • California Class C Office Space$23.50

Berkeley, CA Office Asking Rents by Class

2020 Office Construction in Berkeley, CA

  • Berkeley, CA Total SF completed in 2020
  • Berkeley, CA Total SF under construction in 2021 65,250

During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Berkeley office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 65,250 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Berkeley
Office building Address SF Completed
theLAB Berkeley - Building 1, 2 2222 Fifth Street, 94710 50,828 2022
theLAB Berkeley - Building 3 2246 Fifth Street, 94710 36,331 2022
Berkeley Medical Offices 2621 10th Street, 94710 62,000 2021
2120 Berkeley Way 2120 Berkeley Way, 94704 41,674 2019
Foundry31 3100 San Pablo Avenue, 94608 402,700 2018
Aquatic Park Center - 740 Heinz Avenue 740 Heinz Avenue, 94710 110,853 2016
The Ed Roberts Campus 3075 Adeline Street, 94703 80,000 2010
David Browner Center 2150 Allston Way, 94704 50,000 2009
Aquatic Park Center - 725 Potter Street 725 Potter Street, 94710 75,000 2002
Aquatic Park Center - 2929 7th Street 2929 7th Street, 94710 71,560 1998

Worth noting among recent office completions on the Berkeley market is theLAB Berkeley - Building 1, 2, which is currently the largest new office development in the city, at 50,828 square feet.

Data provided by Commercial Edge

See reports for nearby markets

  • San Francisco Office Rent Price
  • San Jose Office Rent Price
  • Sunnyvale Office Rent Price
  • Oakland Office Rent Price
  • Santa Clara Office Rent Price
  • Palo Alto Office Rent Price
  • Mountain View Office Rent Price
  • Redwood City Office Rent Price

This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Berkeley commercial properties sized 25,000 square feet or larger.

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 CommercialEdge can guarantee that the information provided is complete.

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