Oakland Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $53.78 2024 Avg. Asking Rent
  • 31.85% 2024 Office Vacancy Rate
  • $130M2024 Total Office Sales
  • $158.71Avg. Sale Price/SF

Oakland office price per square foot in 2024 was $53.78 on average. The local office market recorded an average vacancy rate of 31.85% across all asset classes combined. The 5 transactions that closed here throughout 2024 amounted to a total sale volume of $130M. Oakland office space commanded an average sale price per square foot of $158.71.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Oakland Class A & A+ Office Space$63.22
  • Oakland Class B Office Space$45.37
  • Oakland Class C Office Space$24.00
  • California Class A & A+ Office Space$60.31
  • California Class B Office Space$38.42
  • California Class C Office Space$26.20

Oakland, CA Office Asking Rents by Class

Average office rent in Oakland rested at $53.78 per square foot in 2024. 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 Oakland averaged $63.22 per square foot. Across all submarkets, class B office space recorded an average asking rent of $45.37 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $24.00 per square foot, on average. Comparably, statewide California average office rents by class in 2024 were: $60.31 per square foot for class A office space; $38.42 per square foot for class B office space; $26.20 per square foot for class C office space.

2024 Office Vacancy Rates in Oakland

Submarket Asking Rents Vacancy Rates
Oakland - Downtown $55.69 34.44%
Oakland - North $50.96 35.94%
Oakland - Airport $41.87 23.58%
Oakland - East $27.30 3.31%
Oakland - West $25.20 11.89%
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 Oakland market was 31.85% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Oakland was 3.31% in the Oakland - East submarket, while the highest office vacancy in the market was 35.94%, recorded in Oakland - North.

Office Spaces for Rent in California

Oakland Office Sale Price per SF

  • $158.712024 Avg. Price per SF
  • -47.96%Y-o-Y Avg. PpSF Change
  • $130M2024 Office Sales Volume
  • 52024 Number of Transactions

Oakland, CA Sale Price per SF Trend

  • Oakland Avg. Sale Price per SF in 2024$158.71
  • California Avg. Sale Price per SF in 2024$249.15
Oakland office space cost in 2024 marked a -47.96% change compared to the previous year. The sale price for office space in Oakland averaged $158.71 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide California average office sale price during the same time period was $249.15 per square foot.

2024 Office Sales Volume

  • Oakland, CA Total Office Sales Volume in 2024 $130M
  • Oakland, CA Total Number of Office Sales Closed in 2024 5
A total of 5 deals closed on the Oakland office market in 2024, adding up to a yearly sales volume of $130M. Notably, the largest transaction on the market saw One80 Grand change hands for $99,600,000 on 10/10/2024.
Data provided by Commercial Edge

Coworking Spaces in California

2024 Office Construction in Oakland, CA

  • Oakland, CA Total SF under construction in 2025 170,049
Largest Office Properties Recently Completed in Oakland
Office building Address SF Completed
The Key at 12th 1100 Broadway, 94607 345,300 2020
Tapscott Building 1910 Broadway, 94612 43,395 2020
601 City Center 601 12th Street, 94607 606,267 2019
The Petra Building 1630 San Pablo Ave, 94612 26,700 2017
MacArthur Annex 644 40th Street, 94609 10,000 2016
Center 21 - 2100 Franklin Street 2100 Franklin Street, 94612 216,666 2008
10 Clay St 10 Clay St, 94607 15,000 2008
Jack London Square - 55 Harrison 55 Harrison Street, 94607 188,302 2007
555 City Center 555 12th Street, 94607 485,039 2002
555 City Center 555 12th St, 94607 485,039 2002

Worth noting among recent office completions on the Oakland market is The Key at 12th, which is currently the largest new office development in the city, at 345,300 square feet.

Data provided by Commercial Edge

See reports for other markets

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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Oakland 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.