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.
| 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.
See reports for nearby markets
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.