Bakersfield Office Market Trends

Office Rental Market

  • $25.20 2019 Avg. Asking Rent
  • 8.47 % 2019 Avg. Vacancy Rate
  • 0 2019 Office Completions (Sqft)
  • 62,000 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Bakersfield was $25.20 per square foot, and the office vacancy rate across the market averaged 8.47 %. During 2019, developers added 0 square feet of new office space to the Bakersfield market inventory. Office developments estimated for delivery during 2020 total 62,000 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Bakersfield Class A Office Buildings$28.45
  • Bakersfield Class B Office Buildings$24.98
  • Bakersfield Class C Office Buildings$23.50
  • CA Class A Office Buildings$51.59
  • CA Class B Office Buildings$34.34
  • CA Class C Office Buildings$22.62

Bakersfield, CA Office Asking Rents by Class

Office asking rents vary across the Bakersfield office market depending on several factors, one of which is property class. While rents for Class A office buildings in Bakersfield averaged $28.45 per square foot in 2019, Class B office properties garnered average rental rates of $24.98 per square foot. Rental rates for Class C office property in Bakersfield averaged $23.50 per square foot. On a statewide level, Class B office space rents averaged $34.34 per square foot, while rents for Class A office space across California averaged $51.59 per square foot. On average, Class C office properties in California commanded rents of $22.62 per square foot.

OFFICE CONSTRUCTION IN Bakersfield, CA

  • Bakersfield, CA Total Sqft completed in 2019 0
  • Bakersfield, CA Total Sqft under construction in 2020 62,000
10 Largest Office Buildings in Bakersfield
Building name Address Total Sqft Year built
900 Old River Road 900 Old River Road, 93311 556,000 1995
10000 Ming Avenue 10000 Ming Avenue, 93311 213,143 1985
California Corporate Center - 4540 & 4550 California Avenue 4550 California Avenue, 93309 198,975 1987
Stockdale Tower 5060 California Avenue, 93309 193,524 1983
100 East California Avenue 100 East California Avenue, 93305 166,565 1988
Cal Twin Towers 4900 California Avenue, 93309 151,124 1984
9525 Camino Media & 1400 Forum Way 9525 Camino Media, 93311 144,674 2002
GEM Discovery Plaza 1200 Discovery Drive, 93309 126,131 1986
The Truxtun Tower 1440 Truxtun Avenue, 93301 122,502 1974
2620 & 2700 Chester Avenue 2620 Chester Avenue, 93301 118,934 2013
Largest Office Properties Recently Completed in Bakersfield
Office building Address Sqft Completed
Valley Children's Healthcare - Eagle Oaks Specialty Care Center 12500 Stockdale Hwy, 93314 52,000 2018
212 Coffee Road 212 Coffee Road, 93309 38,574 2018
6515 Woodmere Drive 6515 Woodmere Drive, 93313 28,587 2017
Crown Pointe Business Center - Building 1700 8307 Brimhall Road, 93312 27,000 2016
Rio Bravo Medical Campus - Phase I 4500 Morning Drive, 93306 65,000 2015
11117 River Run Blvd 11117 River Run Blvd, 93311 55,586 2015
Seven Oaks Business Park - 11601 Bolthouse Drive 11601 Bolthouse Drive, 93311 27,200 2015
Seven Oaks Business Park - 11500 Bolthouse Drive 11500 Bolthouse Drive, 93311 60,000 2014
2620 & 2700 Chester Avenue 2620 Chester Avenue, 93301 118,934 2013
11200 River Run Blvd 11200 River Run Blvd, 93311 29,400 2013
Data provided by Commercial Edge

Office Spaces for Rent in California

BAKERSFIELD OFFICE SALES TRENDS

  • $151.442019 Avg. Price per Sqft
  • 43.35 %Y-o-Y Avg. PpSF Change
  • $39M2019 Office Sales Volume
  • 42019 Number of Transactions

In 2019, office sales in Bakersfield averaged $151.44 per square foot. This marked a 43.35 % increase in office price per square foot, compared to the previous year. A total of 4 office sales closed on the Bakersfield office market in 2019, amounting to a total sales volume of $39M.

Average Office Sale Price per Sqft

Bakersfield, CA Sales Trends

  • Bakersfield Price per Sqft$151.44
  • California Price per Sqft$437.86

Office Sales - Trend and Volume

  • Bakersfield, CA Total Office Sales Volume in 2019 $39M
  • Bakersfield, CA Total Number of Office Sales Closed in 2019 4

Largest Bakersfield Office Sales in 2019

Property name Address Date Price
California Corporate Center - 4540 & 4550 California Avenue 4550 California Avenue 11/1/2019 $27,950,000
River Walk - 9700 Stockdale Hwy 9700 Stockdale Hwy 6/21/2019 $9,200,000
Data provided by Commercial Edge

See trends for nearby markets

The Bakersfield office market contains an inventory of 7,212,947 square feet of office space, in 197 buildings that are equal to or larger than 25,000 square feet.

This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive 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.