Bakersfield Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $25.21 2024 Avg. Asking Rent
  • 11.95% 2024 Office Vacancy Rate
  • $36.6M2024 Total Office Sales
  • $175.93Avg. Sale Price/SF

Bakersfield office price per square foot in 2024 was $25.21 on average. The local office market recorded an average vacancy rate of 11.95% across all asset classes combined. The 4 transactions that closed here throughout 2024 amounted to a total sale volume of $36.6M. Bakersfield office space commanded an average sale price per square foot of $175.93.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • California Class A & A+ Office Space$60.31
  • California Class B Office Space$38.42
  • California Class C Office Space$26.20

Bakersfield, CA Office Asking Rents by Class

Office Spaces for Rent in California

Bakersfield Office Sale Price per SF

  • $175.932024 Avg. Price per SF
  • 46.42%Y-o-Y Avg. PpSF Change
  • $36.6M2024 Office Sales Volume
  • 42024 Number of Transactions

Bakersfield, CA Sale Price per SF Trend

  • Bakersfield Avg. Sale Price per SF in 2024$175.93
  • California Avg. Sale Price per SF in 2024$249.15
Bakersfield office space cost in 2024 marked a +46.42% change compared to the previous year. The sale price for office space in Bakersfield averaged $175.93 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide California average office sale price during the same time period was $249.15 per square foot.

2024 Office Sales Volume

  • Bakersfield, CA Total Office Sales Volume in 2024 $36.6M
  • Bakersfield, CA Total Number of Office Sales Closed in 2024 4
A total of 4 deals closed on the Bakersfield office market in 2024, adding up to a yearly sales volume of $36.6M. Notably, the largest transaction on the market saw Centennial Center change hands for $12,325,000 on 12/19/2024.
Data provided by Commercial Edge

Coworking Spaces in California

2024 Office Construction in Bakersfield, CA

Largest Office Properties Recently Completed in Bakersfield
Office building Address SF Completed
Rio Bravo Medical Campus - Phase I 4500 Morning Drive, 93306 65,000 2015
University Place 8500 Stockdale Hwy, 93311 52,000 2007
Two University Centre 9201 Camino Media, 93311 53,186 2003
Four Story, Class "A" 900 Old River Rd, 93311 572,414 1995
Parkway Center 4200 Truxtun Avenue, 93309 61,333 1992
5101 Office Park Drive 5101 Office Park Drive, 93309 39,726 1988
Westpark Business Center 5251 Office Park Drive, 93309 38,400 1988
Medical Office Condo | Lake Truxtun Plaza 6001 Truxtun Ave, 93309 2,426 1988
GEM Discovery Plaza 1200 Discovery Drive, 93309 126,131 1986
Two Story, Medical Office Building with Three-Level Parking Garage 2525 Eye St, 93301 24,504 1986

Worth noting among recent office completions on the Bakersfield market is Rio Bravo Medical Campus - Phase I, which is currently the largest new office development in the city, at 65,000 square feet.

Data provided by Commercial Edge

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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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Bakersfield 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.