Long Beach Office Rent Price & Sales Report

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%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Long Beach market was 15.55% in 2021. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Long Beach was 14.16% in the Long Beach submarket, while the highest office vacancy in the market was 16.17%, recorded in Long Beach - Downtown.

Office Spaces for Rent in California

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
Long Beach office space cost in 2021 marked a -29.61% change compared to the previous year. The sale price for office space in Long Beach averaged $134.88 per square foot in 2021, across all market subdivisions and asset classes. Conversely, the statewide California average office sale price during the same time period was $431.23 per square foot.

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
A total of 3 deals closed on the Long Beach office market in 2021, adding up to a yearly sales volume of $44.9M. Notably, the largest transaction on the market saw Waterfront at Catalina Landing - 320, 330 & 340 Golden Shore, The change hands for $27,451,190 on 5/12/2021.

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
Data provided by Commercial Edge

Coworking Spaces in California

2021 Office Construction in Long Beach, CA

  • Long Beach, CA Total SF under construction in 2022 102,848
Largest Office Properties Recently Completed in Long Beach
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.

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 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.