Costa Mesa Office Market Trends

Office Rental Market

  • $38.85 2019 Avg. Asking Rent
  • 12.16 % 2019 Avg. Vacancy Rate
  • 0 2019 Office Completions (Sqft)
  • 380,856 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Costa Mesa was $38.85 per square foot, and the office vacancy rate across the market averaged 12.16 %. During 2019, developers added 0 square feet of new office space to the Costa Mesa market inventory. Office developments estimated for delivery during 2020 total 380,856 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Costa Mesa Class A Office Buildings$39.91
  • Costa Mesa Class B Office Buildings$36.41
  • Costa Mesa Class C Office Buildings$23.84
  • CA Class A Office Buildings$51.59
  • CA Class B Office Buildings$34.34
  • CA Class C Office Buildings$22.62

Costa Mesa, CA Office Asking Rents by Class

Office asking rents vary across the Costa Mesa office market depending on several factors, one of which is property class. While rents for Class A office buildings in Costa Mesa averaged $39.91 per square foot in 2019, Class B office properties garnered average rental rates of $36.41 per square foot. Rental rates for Class C office property in Costa Mesa averaged $23.84 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.

2019 OFFICE VACANCY RATES

Submarket Asking Rents Vacancy Rates
South Coast Metro$40.099.36 %
Costa Mesa$37.7423.66 %
John Wayne Airport$32.6310.95 %
Data provided by Commercial Edge
  • The lowest office vacancy rate in 2019 in Costa Mesa was 9.36 % in the South Coast Metro submarket, where asking rents averaged $40.09.
  • The highest office vacancy rate in 2019 in Costa Mesa was 23.66 % in the Costa Mesa submarket, where asking rents averaged $37.74.

OFFICE CONSTRUCTION IN Costa Mesa, CA

  • Costa Mesa, CA Total Sqft completed in 2019 0
  • Costa Mesa, CA Total Sqft under construction in 2020 380,856
10 Largest Office Buildings in Costa Mesa
Building name Address Total Sqft Year built
Automobile Club of Southern California Office Complex 3333 Fairview Road, 92626 743,877 1982
South Coast Plaza - Center Tower 650 Town Center Drive, 92626 462,191 1985
Center Tower 650 Town Center Drive, 92626 462,191 1985
Plaza Tower 600 Anton Boulevard, 92626 456,384 1991
The Press 1375 Sunflower Avenue, 92626 431,765 2020
South Coast Plaza - Park Tower 695 Town Center Drive, 92626 337,000 1979
Park Tower 695 Town Center Drive, 92626 335,504 1979
Experian Corporate Headquarters 475 Anton Blvd, 92626 310,000 2002
Pacific Arts Plaza - 3200 Park Center Drive 3200 Park Center Drive, 92626 300,621 1981
Pacific Arts Plaza - 611 Anton Blvd 611 Anton Blvd, 92626 299,431 1981
Largest Office Properties Recently Completed in Costa Mesa
Office building Address Sqft Completed
The Press 1375 Sunflower Avenue, 92626 431,765 2020
Pacific Medical Plaza 1640 Newport Blvd, 92627 76,880 2008
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
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
Sunflower Corporate Center - 1620 Sunflower Avenue 1620 Sunflower Avenue, 92626 37,455 1988
Data provided by Commercial Edge

Office Spaces for Rent in California

COSTA MESA OFFICE SALES TRENDS

  • $229.732019 Avg. Price per Sqft
  • 9.72 %Y-o-Y Avg. PpSF Change
  • $105.2M2019 Office Sales Volume
  • 42019 Number of Transactions

In 2019, office sales in Costa Mesa averaged $229.73 per square foot. This marked a 9.72 % increase in office price per square foot, compared to the previous year. A total of 4 office sales closed on the Costa Mesa office market in 2019, amounting to a total sales volume of $105.2M.

Average Office Sale Price per Sqft

Costa Mesa, CA Sales Trends

  • Costa Mesa Price per Sqft$229.73
  • California Price per Sqft$437.86

Office Sales - Trend and Volume

  • Costa Mesa, CA Total Office Sales Volume in 2019 $105.2M
  • Costa Mesa, CA Total Number of Office Sales Closed in 2019 4

Largest Costa Mesa Office Sales in 2019

Property name Address Date Price
Landing - 2995 Red Hill Avenue, The 2995 Red Hill Avenue 11/19/2019 $26,874,490
Landing - 2975 Red Hill Avenue, The 2975 Red Hill Avenue 11/19/2019 $24,807,760
Landing - 2955 Red Hill Avenue, The 2955 Red Hill Avenue 11/19/2019 $20,317,760
Scenic Business Park - 1665 Scenic Avenue 1665 Scenic Avenue 12/12/2019 $13,375,000
Newport Victoria Plaza 2183 Fairview Road 9/12/2019 $6,860,000
Data provided by Commercial Edge

The Costa Mesa office market contains an inventory of 8,273,583 square feet of office space, in 145 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 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.