2022 Office Space Rent & Sales
- $24.84 2022 Avg. Asking Rent
- -0.60% Y-o-Y Avg. Asking Rent Change
- 8.25% 2022 Office Vacancy Rate
- $56.8M2022 Total Office Sales
- $87.89Avg. Sale Price/SF
Bakersfield office price per square foot in 2022 was $24.84 on average. This marked a -0.60% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 8.25% across all asset classes combined. The 3 transactions that closed here throughout 2022 amounted to a total sale volume of $56.8M. Bakersfield office space commanded an average sale price per square foot of $87.89.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Bakersfield Class A & A+ Office Space$22.41
- Bakersfield Class B Office Space$25.43
- Bakersfield Class C Office Space$22.54
- California Class A & A+ Office Space$59.32
- California Class B Office Space$37.75
- California Class C Office Space$25.55
Bakersfield, CA Office Asking Rents by Class
Average office rent in Bakersfield rested at $24.84 per square foot in 2022. 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 Bakersfield averaged $22.41 per square foot. Across all submarkets, class B office space recorded an average asking rent of $25.43 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $22.54 per square foot, on average. Comparably, statewide California average office rents by class in 2022 were: $59.32 per square foot for class A office space; $37.75 per square foot for class B office space; $25.55 per square foot for class C office space.
Office Spaces for Rent in California
- Los Angeles Office Space
- East Bay Office Space
- San Diego Office Space
- San Francisco Office Space
- San Jose Office Space
- Sacramento Office Space
- Irvine Office Space
- Fresno Office Space
- Sunnyvale Office Space
- Palo Alto Office Space
- Oakland Office Space
- Santa Clara Office Space
- Mountain View Office Space
- Santa Monica Office Space
- Redwood City Office Space
Bakersfield Office Sale Price per SF
- $87.892022 Avg. Price per SF
- $56.8M2022 Office Sales Volume
- 32022 Number of Transactions
Bakersfield, CA Sale Price per SF Trend
- Bakersfield Avg. Sale Price per SF in 2022$87.89
- California Avg. Sale Price per SF in 2022$396.51
2022 Office Sales Volume
- Bakersfield, CA Total Office Sales Volume in 2022 $56.8M
- Bakersfield, CA Total Number of Office Sales Closed in 2022 3
Largest Bakersfield Office Sales in 2022
| Property name | Address | Date | Price |
|---|---|---|---|
| Rio Bravo Medical Campus - Phase I | 4500 Morning Drive | 6/17/2022 | $35,400,000 |
| 900 Old River Road | 900 Old River Road | 7/1/2022 | $14,000,000 |
| 5800 District Blvd | 5800 District Blvd | 1/25/2022 | $7,400,000 |
Coworking Spaces in California
- Los Angeles Coworking Space
- San Francisco Coworking Space
- San Diego Coworking Space
- East Bay Coworking Space
- Irvine Coworking Space
- Sacramento Coworking Space
- Oakland Coworking Space
- Newport Beach Coworking Space
- Long Beach Coworking Space
- San Jose Coworking Space
- Beverly Hills Coworking Space
- Carlsbad Coworking Space
- Pasadena Coworking Space
- Santa Monica Coworking Space
- Glendale Coworking Space
- Palo Alto Coworking Space
- Berkeley Coworking Space
- Thousand Oaks Coworking Space
- Torrance Coworking Space
- Santa Ana Coworking Space
- Santa Barbara Coworking Space
- Costa Mesa Coworking Space
- San Mateo Coworking Space
- El Segundo Coworking Space
- Ontario Coworking Space
- Santa Rosa Coworking Space
- Temecula Coworking Space
- Walnut Creek Coworking Space
- Manhattan Beach Coworking Space
- Murrieta Coworking Space
2022 Office Construction in Bakersfield, CA
| Office building | Address | SF | Completed |
|---|---|---|---|
| 7606 Meany Avenue | 7606 Meany Ave, 93308 | 1,431 | 2022 |
| 3655 Unicorn Road #B | 3655 Unicorn Road #B, 93308 | 25,600 | 2018 |
| Rio Bravo Medical Campus - Phase I | 4500 Morning Drive, 93306 | 65,000 | 2015 |
| University Place | 8500 Stockdale Hwy, 93311 | 52,000 | 2007 |
| 7737 Meany Ave | 7737 Meany Ave, 93308 | 39,600 | 2007 |
| 4885 Truxtun Ave | 4885 Truxtun Ave, 93309 | 12,276 | 2006 |
| 7600 Meany Avenue | 7600 Meany Ave, 93308 | 8,070 | 2005 |
| Two University Centre | 9201 Camino Media, 93311 | 53,186 | 2003 |
| One University Centre | 9100 Ming Avenue, 93311 | 67,064 | 2000 |
| Parkway Center | 4200 Truxtun Avenue, 93309 | 61,333 | 1992 |
Worth noting among recent office completions on the Bakersfield market is 7606 Meany Avenue, which is currently the largest new office development in the city, at 1,431 square feet.
See reports for other markets
- Los Angeles Office Rent Price
- San Diego Office Rent Price
- San Francisco Office Rent Price
- San Jose Office Rent Price
- Sacramento Office Rent Price
- Irvine Office Rent Price
- Fresno Office Rent Price
- Sunnyvale Office Rent Price
- Santa Clara Office Rent Price
- Santa Monica Office Rent Price
- Phoenix Office Rent Price
- San Antonio Office Rent Price
- Atlanta Office Rent Price
- Chicago Office Rent Price
- Dallas Office Rent Price
- Washington 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 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. 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.