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Bakersfield Office Rent Price & Sales Report

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

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  • 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
The sale price for office space in Bakersfield averaged $87.89 per square foot in 2022, across all market subdivisions and asset classes. Conversely, the statewide California average office sale price during the same time period was $396.51 per square foot.

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
A total of 3 deals closed on the Bakersfield office market in 2022, adding up to a yearly sales volume of $56.8M. Notably, the largest transaction on the market saw Rio Bravo Medical Campus - Phase I change hands for $35,400,000 on 6/17/2022.

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
Data provided by Commercial Edge

Coworking Spaces in California

  • Los Angeles Coworking Space
  • San Francisco Coworking Space
  • San Diego Coworking Space
  • East Bay Coworking Space
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  • Sacramento Coworking Space
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  • Glendale Coworking Space
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  • 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

Largest Office Properties Recently Completed in Bakersfield
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.

Data provided by Commercial Edge

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 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.

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