2023 Office Space Rent & Sales
- $23.55 2023 Avg. Asking Rent
- -2.27% Y-o-Y Avg. Asking Rent Change
- 16.51% 2023 Office Vacancy Rate
Fresno office price per square foot in 2023 was $23.55 on average. This marked a -2.27% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 16.51% across all asset classes combined.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Fresno Class A & A+ Office Space$32.43
- Fresno Class B Office Space$21.88
- Fresno Class C Office Space$19.54
- California Class A & A+ Office Space$56.30
- California Class B Office Space$37.45
- California Class C Office Space$44.91
Fresno, CA Office Asking Rents by Class
Average office rent in Fresno rested at $23.55 per square foot in 2023. 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 Fresno averaged $32.43 per square foot. Across all submarkets, class B office space recorded an average asking rent of $21.88 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $19.54 per square foot, on average. Comparably, statewide California average office rents by class in 2023 were: $56.30 per square foot for class A office space; $37.45 per square foot for class B office space; $44.91 per square foot for class C office space.
2023 Office Vacancy Rates in Fresno
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
North Fresno County | $24.04 | 8.70% |
South Fresno County | $21.71 | 34.70% |
Coworking Spaces in California
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2023 Office Construction in Fresno, CA
Office building | Address | SF | Completed |
---|---|---|---|
4165 W. Alamos Avenue | 4165 W. Alamos Avenue, 93722 | 6,500 | 2022 |
5614 - 5618 N. Fresno St. Fresno | 5614 N. Fresno St. Fresno, 93710 | 240 | 2022 |
Palm Bluffs Corporate Center - 7700 North Palm Avenue | 7700 North Palm Avenue, 93711 | 42,166 | 2020 |
4065 West Figarden Drive | 4065 West Figarden Drive, 93722 | 28,780 | 2020 |
4065 West Figarden Drive | 4065 West Figarden Drive, 93722 | 28,780 | 2020 |
7546 North Colonial Avenue | 7546 N Colonial Ave, 93711 | 15,563 | 2019 |
3911 North Blatella Lane | 3911 N Blatella Ln, 93727 | 11,250 | 2009 |
Office/Flex Space Available in Excellent Condition & Move-In Ready | 5096 N Blythe Ave, 93722 | 20,500 | 2007 |
Civic Center Square - 2440 Tulare Street | 2440 Tulare Street, 93721 | 89,097 | 2006 |
High Quality Office/Warehouse Space in Fresno, CA | 2695 N Fowler Ave, 93727 | 29,759 | 2006 |
Worth noting among recent office completions on the Fresno market is 4165 W. Alamos Avenue, which is currently the largest new office development in the city, at 6,500 square feet.
See reports for other markets
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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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Fresno 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.