2023 Office Space Rent & Sales
- $34.67 2023 Avg. Asking Rent
- 0.35% Y-o-Y Avg. Asking Rent Change
- 14.58% 2023 Office Vacancy Rate
- $283.7M2023 Total Office Sales
- $257.67Avg. Sale Price/SF
Irvine office price per square foot in 2023 was $34.67 on average. This marked a +0.35% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 14.58% across all asset classes combined. The 13 transactions that closed here throughout 2023 amounted to a total sale volume of $283.7M. Irvine office space commanded an average sale price per square foot of $257.67.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Irvine Class A & A+ Office Space$35.26
- Irvine Class B Office Space$34.25
- California Class A & A+ Office Space$56.30
- California Class B Office Space$37.45
- California Class C Office Space$44.91
Irvine, CA Office Asking Rents by Class
2023 Office Vacancy Rates in Irvine
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Irvine | $36.62 | 17.74% |
University of California Irvine | $35.22 | 6.97% |
Irvine Spectrum | $34.83 | 9.64% |
John Wayne Airport | $34.45 | 20.16% |
Irvine Business Complex | $32.25 | 16.00% |
Laguna Woods | $30.48 | 14.55% |
Laguna Hills | $28.36 | 18.08% |
Lake Forest | $26.77 | 18.97% |
Irvine Office Sale Price per SF
- $257.672023 Avg. Price per SF
- -44.63%Y-o-Y Avg. PpSF Change
- $283.7M2023 Office Sales Volume
- 132023 Number of Transactions
Irvine, CA Sale Price per SF Trend
- Irvine Avg. Sale Price per SF in 2023$257.67
- California Avg. Sale Price per SF in 2023$256.51
2023 Office Sales Volume
- Irvine, CA Total Office Sales Volume in 2023 $283.7M
- Irvine, CA Total Number of Office Sales Closed in 2023 13
Largest Irvine Office Sales in 2023
Property name | Address | Date | Price |
---|---|---|---|
Irvine Concourse - 2050 Main Street | 2050 Main Street | 10/2/2023 | $57,500,000 |
16752 Armstrong Avenue | 16752 Armstrong Avenue | 1/6/2023 | $40,000,000 |
Main Corporate Center - 17900 | 17900 Von Karman Avenue | 5/24/2023 | $16,900,000 |
Pacifica Corporate Center | 108 Pacifica | 10/27/2023 | $13,900,000 |
8 Hughes | 8 Hughes | 4/17/2023 | $11,866,000 |
Coworking Spaces in California
- Los Angeles Coworking Space
- San Francisco Coworking Space
- San Diego Coworking Space
- Las Vegas Coworking Space
- Seattle Coworking Space
- Phoenix Coworking Space
- Irvine Coworking Space
- Sacramento Coworking Space
- Scottsdale Coworking Space
- Salt Lake City Coworking Space
- Long Beach Coworking Space
- Newport Beach Coworking Space
- San Jose Coworking Space
- Tacoma Coworking Space
- Oakland Coworking Space
- Bellevue Coworking Space
- Carlsbad Coworking Space
- Pasadena Coworking Space
- Tucson Coworking Space
- Palo Alto Coworking Space
- Berkeley Coworking Space
2023 Office Construction in Irvine, CA
Office building | Address | SF | Completed |
---|---|---|---|
Spectrum Terrace - 17700 Laguna Canyon Road | 17700 Laguna Canyon Road, 92603 | 115,293 | 2022 |
Spectrum Terrace - 17800 Laguna Canyon Road | 17800 Laguna Canyon Road, 92603 | 115,293 | 2022 |
Spectrum Terrace | 17400 Laguna Canyon Rd., 92618 | 116,261 | 2021 |
Innovation Office Park | 150 Progress, 92618 | 293,179 | 2020 |
The Quad @ Discovery Park | 500 Technology Drive, 92618 | 369,600 | 2019 |
Discovery Park - 525 Technology Drive | 525 Technology Drive, 92618 | 105,600 | 2019 |
Discovery Park - 505 Technology Drive | 505 Technology Drive, 92618 | 79,200 | 2019 |
The Boardwalk | 18565-18575 Jamboree Rd., 92612 | 537,224 | 2017 |
400 Spectrum Center | 400 Spectrum Center Drive, 92618 | 426,000 | 2017 |
Spectrum Center | 200 Spectrum Center Dr., 92618 | 425,044 | 2016 |
Worth noting among recent office completions on the Irvine market is Spectrum Terrace - 17700 Laguna Canyon Road, which is currently the largest new office development in the city, at 115,293 square feet.
See reports for other markets
- Los Angeles Office Rent Price
- San Francisco Office Rent Price
- San Diego Office Rent Price
- Sacramento Office Rent Price
- San Jose Office Rent Price
- Fresno Office Rent Price
- Oakland Office Rent Price
- Palo Alto Office Rent Price
- Santa Monica Office Rent Price
- Pasadena Office Rent Price
- Redwood City Office Rent Price
- Walnut Creek Office Rent Price
- Santa Clara Office Rent Price
- Long Beach Office Rent Price
- Beverly Hills Office Rent Price
- Newport Beach Office Rent Price
- Santa Ana Office Rent Price
- Mountain View Office Rent Price
- San Mateo Office Rent Price
- Bakersfield Office Rent Price
- Carlsbad Office Rent Price
- Riverside Office Rent Price
- Santa Barbara Office Rent Price
- Roseville Office Rent Price
- Thousand Oaks Office Rent Price
- Menlo Park Office Rent Price
- Burbank Office Rent Price
- Berkeley Office Rent Price
- Sunnyvale Office Rent Price
- Temecula Office Rent Price
- Culver City Office Rent Price
- Rancho Cordova Office Rent Price
- Brea Office Rent Price
- Costa Mesa Office Rent Price
- Woodland Hills Office Rent Price
- Orange Office Rent Price
- Concord Office Rent Price
- El Segundo Office Rent Price
- Ventura Office Rent Price
- San Rafael Office Rent Price
- Anaheim Office Rent Price
- Westlake Village Office Rent Price
- Glendale Office Rent Price
- Folsom Office Rent Price
- San Ramon Office Rent Price
- Encino Office Rent Price
- La Jolla Office Rent Price
- Laguna Hills Office Rent Price
- Campbell Office Rent Price
- Napa Office Rent Price
- Murrieta Office Rent Price
- Torrance Office Rent Price
- Oxnard Office Rent Price
- Chula Vista Office Rent Price
- Petaluma Office Rent Price
- Emeryville Office Rent Price
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 Irvine 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.