2020 Office Space Rent & Sales
- $23.42 2020 Avg. Asking Rent
- -0.90% Y-o-Y Avg. Asking Rent Change
- 9.26% 2020 Office Vacancy Rate
Fresno office price per square foot in 2020 was $23.42 on average. This marked a -0.90% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 9.26% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Fresno Class A Office Space$31.23
- Fresno Class B Office Space$22.26
- Fresno Class C Office Space$19.02
- California Class A Office Space$55.92
- California Class B Office Space$35.12
- California Class C Office Space$23.50
Fresno, CA Office Asking Rents by Class
Average office rent in Fresno rested at $23.42 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 Fresno averaged $31.23 per square foot. Across all submarkets, class B office space recorded an average asking rent of $22.26 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $19.02 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 Fresno
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| South Fresno County | $25.72 | 6.80% |
| North Fresno County | $22.50 | 10.28% |
Office Spaces for Rent in California
2020 Office Construction in Fresno, CA
- Fresno, CA Total SF completed in 2020 115,166
During 2020, 115,166 square feet of new office space were delivered across the market. At the close of 2020, the Fresno office inventory included 2 buildings equal to or larger than 25,000 square feet, which comprised 115,166 square feet of office space.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Bitwise State Center Warehouse | 747 R Street, 93721 | 100,000 | 2022 |
| Palm Bluffs Corporate Center - 7700 North Palm Avenue | 7700 North Palm Avenue, 93711 | 42,166 | 2020 |
| Sugar Pine Square | 225 East Nees Avenue, 93720 | 60,000 | 2019 |
| 3875 West Beachwood Avenue | 3875 West Beachwood Avenue, 93722 | 53,033 | 2019 |
| 2721 Ventura Street | 2721 Ventura Street, 93721 | 46,425 | 2019 |
| Community Regional Medical Office Building | 215 North Fresno Street, 93701 | 180,000 | 2018 |
| Bitwise South Stadium | 700 Van Ness Avenue, 93721 | 50,000 | 2016 |
| Warehouse Row | 744 P Street, 93721 | 75,000 | 2015 |
| East Medical Plaza | 2335 East Kashian Lane, 93701 | 88,000 | 2010 |
| Community Regional Medical Center - Deran Koligian Ambulatory Care Center | 290 North Wayte Lane, 93701 | 79,518 | 2010 |
Worth noting among recent office completions on the Fresno market is Bitwise State Center Warehouse, which is currently the largest new office development in the city, at 100,000 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 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.