Berkeley Office Market Trends

Office Rental Market

  • $41.00 2019 Avg. Asking Rent
  • 4.04 % 2019 Avg. Vacancy Rate
  • 41,674 2019 Office Completions (Sqft)
  • 59,920 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Berkeley was $41.00 per square foot, and the office vacancy rate across the market averaged 4.04 %. During 2019, developers added 41,674 square feet of new office space to the Berkeley market inventory. Office developments estimated for delivery during 2020 total 59,920 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Berkeley Class A Office Buildings$48.00
  • Berkeley Class B Office Buildings$40.22
  • Berkeley Class C Office Buildings$39.91
  • CA Class A Office Buildings$51.59
  • CA Class B Office Buildings$34.34
  • CA Class C Office Buildings$22.62

Berkeley, CA Office Asking Rents by Class

Office asking rents vary across the Berkeley office market depending on several factors, one of which is property class. While rents for Class A office buildings in Berkeley averaged $48.00 per square foot in 2019, Class B office properties garnered average rental rates of $40.22 per square foot. Rental rates for Class C office property in Berkeley averaged $39.91 per square foot. On a statewide level, Class B office space rents averaged $34.34 per square foot, while rents for Class A office space across California averaged $51.59 per square foot. On average, Class C office properties in California commanded rents of $22.62 per square foot.

OFFICE CONSTRUCTION IN Berkeley, CA

  • Berkeley, CA Total Sqft completed in 2019 41,674
  • Berkeley, CA Total Sqft under construction in 2020 59,920
10 Largest Office Buildings in Berkeley
Building name Address Total Sqft Year built
Foundry31 3100 San Pablo Avenue, 94608 492,706 2018
Golden Bear Center 1995 University Avenue, 94704 170,355 1987
Temescal Business Center 775 Heinz Avenue, 94710 132,196 1994
Parker Plaza 2550 9th Street, 94710 130,000 1946
Saul Zaentz Center 2600 10th Street, 94710 128,946 1971
Aquatic Park Center - 740 Heinz Avenue 740 Heinz Avenue, 94710 110,853 2016
Aquatic Park Center - 717 Potter Street 717 Potter Street, 94710 96,000 1997
Aquatic Park Center - 700 Heinz Avenue 700 Heinz Avenue, 94710 86,000 1989
The Corder Building 2300 Shattuck Avenue, 94704 85,420 1928
2855 Telegraph Avenue 2855 Telegraph Avenue, 94705 83,557 1962
Largest Office Properties Recently Completed in Berkeley
Office building Address Sqft Completed
2621 10th Street 2621 10th Street, 94710 60,670 2021
2120 Berkeley Way 2120 Berkeley Way, 94704 41,674 2019
Foundry31 3100 San Pablo Avenue, 94608 492,706 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
Aquatic Park Center - 717 Potter Street 717 Potter Street, 94710 96,000 1997
1900 Shattuck Avenue 1900 Shattuck Avenue, 94704 28,232 1996
Data provided by Commercial Edge

Office Spaces for Rent in California

See trends for nearby markets

The Berkeley office market contains an inventory of 3,382,154 square feet of office space, in 70 buildings that are equal to or larger than 25,000 square feet.

This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive 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.