Costa Mesa Office Rent Price & Sales Report

2020 Office Space Rent & Sales

  • $36.06 2020 Avg. Asking Rent
  • 16.10% 2020 Office Vacancy Rate

Costa Mesa office price per square foot in 2020 was $36.06 on average. The local office market recorded an average vacancy rate of 16.10% across all asset classes combined.

Average Rent by Office Class

2020 Average Office Rent per Square Foot

  • Costa Mesa Class A Office Space$35.09
  • Costa Mesa Class B Office Space$36.59
  • Costa Mesa Class C Office Space$23.84
  • California Class A Office Space$55.92
  • California Class B Office Space$35.12
  • California Class C Office Space$23.50

Costa Mesa, CA Office Asking Rents by Class

Average office rent in Costa Mesa rested at $36.06 per square foot in 2020. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Costa Mesa averaged $35.09 per square foot. Across all submarkets, class B office space recorded an average asking rent of $36.59 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $23.84 per square foot, on average. Comparably, statewide California average office rents by class in 2020 were: $55.92 per square foot for class A office space; $35.12 per square foot for class B office space; $23.50 per square foot for class C office space.

2020 Office Vacancy Rates in Costa Mesa

Submarket Asking Rents Vacancy Rates
Costa Mesa $38.14 26.98 %
South Coast Metro $36.30 13.44 %
John Wayne Airport $32.47 19.25 %
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Costa Mesa market was 16.10% in 2020. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Costa Mesa was 13.44 % in the South Coast Metro submarket, while the highest office vacancy in the market was 26.98 %, recorded in Costa Mesa.

Office Spaces for Rent in California

2020 Office Construction in Costa Mesa, CA

  • Costa Mesa, CA Total Sqft completed in 2020
  • Costa Mesa, CA Total Sqft under construction in 2021 380,856

During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Costa Mesa 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 380,856 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Costa Mesa
Office building Address Sqft Completed
Hive - Building C 3333 South Susan Street, 92626 101,831 2004
Hive - Buildings A & B 3333 South Susan Street, 92626 82,158 2004
Experian Corporate Headquarters 475 Anton Blvd, 92626 310,000 2002
275 McCormick Avenue 275 McCormick Avenue, 92626 43,163 2001
Red Hill Corporate Center 275 McCormick Avenue, 92626 43,163 2001
Metro Pointe Business Center - 959 South Coast Drive 959 South Coast Drive, 92626 82,875 1990
Canvas South - 3090 Bristol Street 3090 Bristol Street, 92626 121,692 1989
Hyland Plaza 3525 Hyland Avenue, 92626 46,957 1989
Canvas North 3100 Bristol Street, 92626 176,204 1987
Canvas South - 3070 Bristol Street 3070 Bristol Street, 92626 128,754 1986

Worth noting among recent office completions on the Costa Mesa market is Hive - Building C, which is currently the largest new office development in the city, at 101,831 square feet.

Data provided by Commercial Edge

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 Costa Mesa 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.