2021 Office Space Rent & Sales
- $30.86 2021 Avg. Asking Rent
- 0.17% Y-o-Y Avg. Asking Rent Change
- 15.55% 2021 Office Vacancy Rate
- $44.9M2021 Total Office Sales
- $134.88Avg. Sale Price/SF
Long Beach office price per square foot in 2021 was $30.86 on average. This marked a +0.17% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 15.55% across all asset classes combined. The 3 transactions that closed here throughout 2021 amounted to a total sale volume of $44.9M. Long Beach office space commanded an average sale price per square foot of $134.88.
Average Rent by Office Class
2021 Average Office Rent per Square Foot
- Long Beach Class A & A+ Office Space$36.00
- Long Beach Class B Office Space$25.56
- Long Beach Class C Office Space$76.47
- California Class A & A+ Office Space$55.83
- California Class B Office Space$37.04
- California Class C Office Space$33.83
Long Beach, CA Office Asking Rents by Class
Average office rent in Long Beach rested at $30.86 per square foot in 2021. 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 Long Beach averaged $36.00 per square foot. Across all submarkets, class B office space recorded an average asking rent of $25.56 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $76.47 per square foot, on average. Comparably, statewide California average office rents by class in 2021 were: $55.83 per square foot for class A office space; $37.04 per square foot for class B office space; $33.83 per square foot for class C office space.
2021 Office Vacancy Rates in Long Beach
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Long Beach - Downtown | $29.67 | 16.17% |
Long Beach | $29.49 | 14.16% |
Long Beach Office Sale Price per SF
- $134.882021 Avg. Price per SF
- -29.61%Y-o-Y Avg. PpSF Change
- $44.9M2021 Office Sales Volume
- 32021 Number of Transactions
Long Beach, CA Sale Price per SF Trend
- Long Beach Avg. Sale Price per SF in 2021$134.88
- California Avg. Sale Price per SF in 2021$431.23
2021 Office Sales Volume
- Long Beach, CA Total Office Sales Volume in 2021 $44.9M
- Long Beach, CA Total Number of Office Sales Closed in 2021 3
Largest Long Beach Office Sales in 2021
Property name | Address | Date | Price |
---|---|---|---|
Waterfront at Catalina Landing - 320, 330 & 340 Golden Shore, The | 320 Golden Shore | 5/12/2021 | $27,451,190 |
3939 Atlantic Avenue | 3939 Atlantic Avenue | 3/1/2021 | $9,900,000 |
Waterfront at Catalina Landing - 310 Golden Shore, The | 310 Golden Shore | 5/12/2021 | $7,548,808 |
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
- San Jose Coworking Space
- Long Beach Coworking Space
- Beverly Hills Coworking Space
- Carlsbad Coworking Space
- Pasadena Coworking Space
- Santa Monica Coworking Space
- Torrance Coworking Space
- Palo Alto Coworking Space
- Glendale Coworking Space
- Berkeley Coworking Space
- Thousand Oaks Coworking Space
- Costa Mesa Coworking Space
2021 Office Construction in Long Beach, CA
- Long Beach, CA Total SF under construction in 2022 102,848
Office building | Address | SF | Completed |
---|---|---|---|
Building #2 | 3810 Stineman Ct, 90808 | 32,591 | 2023 |
Building #2 | 3810 Stineman Ct, 90808 | 32,591 | 2023 |
Building #1 | 3816 Stineman Ct, 90808 | 27,460 | 2023 |
Building #1 | 3816 Stineman Ct, 90808 | 27,460 | 2023 |
3750 Schaufele Suite 270 | 3750 Schaufele Suite 270, 90808 | 3,850 | 2009 |
Kilroy Airport Center - 3800 Kilroy Airport Way | 3800 Kilroy Airport Way, 90806 | 192,476 | 2000 |
140 Pine Ave | 140 Pine Ave, 90802 | 24,000 | 1995 |
111 West Ocean Blvd | 111 West Ocean Blvd, 90802 | 462,183 | 1990 |
One World Trade Center | 1 World Trade Center, 90802 | 584,511 | 1989 |
Kilroy Airport Center - 3780 Kilroy Airport Way | 3780 Kilroy Airport Way, 90806 | 219,745 | 1989 |
Worth noting among recent office completions on the Long Beach market is Building #2, which is currently the largest new office development in the city, at 32,591 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
- Pasadena Office Rent Price
- Santa Ana Office Rent Price
- Newport Beach Office Rent Price
- Beverly Hills Office Rent Price
- Torrance Office Rent Price
- Burbank 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 2021 through December 31st 2021. Construction pipeline data represented herein is valid as of April 2022. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Long Beach 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.