Sacramento Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $26.29 2024 Avg. Asking Rent
  • 0.37% Y-o-Y Avg. Asking Rent Change
  • 19.74% 2024 Office Vacancy Rate
  • $477.2M2024 Total Office Sales
  • $175.52Avg. Sale Price/SF

Sacramento office price per square foot in 2024 was $26.29 on average. This marked a +0.37% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 19.74% across all asset classes combined. The 21 transactions that closed here throughout 2024 amounted to a total sale volume of $477.2M. Sacramento office space commanded an average sale price per square foot of $175.52.

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

  • Sacramento Class A & A+ Office Space$35.02
  • Sacramento Class B Office Space$22.86
  • Sacramento Class C Office Space$25.65
  • California Class A & A+ Office Space$60.31
  • California Class B Office Space$38.42
  • California Class C Office Space$26.20

Sacramento, CA Office Asking Rents by Class

Average office rent in Sacramento rested at $26.29 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 Sacramento averaged $35.02 per square foot. Across all submarkets, class B office space recorded an average asking rent of $22.86 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $25.65 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 Sacramento

Submarket Asking Rents Vacancy Rates
Downtown $35.93 25.42%
Midtown $35.09 17.21%
East Sacramento $27.17 11.56%
North Sacramento $23.59 19.17%
Point West $21.22 19.84%
Highway 50 Corridor $20.02 26.65%
South Sacramento $18.33 9.70%
Carmichael - Fair Oaks $17.62 18.56%
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 Sacramento market was 19.74% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Sacramento was 9.70% in the South Sacramento submarket, while the highest office vacancy in the market was 26.65%, recorded in Highway 50 Corridor.

Office Spaces for Rent in California

Sacramento Office Sale Price per SF

  • $175.522024 Avg. Price per SF
  • 22.93%Y-o-Y Avg. PpSF Change
  • $477.2M2024 Office Sales Volume
  • 212024 Number of Transactions

Sacramento, CA Sale Price per SF Trend

  • Sacramento Avg. Sale Price per SF in 2024$175.52
  • California Avg. Sale Price per SF in 2024$249.15
Sacramento office space cost in 2024 marked a +22.93% change compared to the previous year. The sale price for office space in Sacramento averaged $175.52 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

  • Sacramento, CA Total Office Sales Volume in 2024 $477.2M
  • Sacramento, CA Total Number of Office Sales Closed in 2024 21
A total of 21 deals closed on the Sacramento office market in 2024, adding up to a yearly sales volume of $477.2M. Notably, the largest transaction on the market saw Wells Fargo Center change hands for $117,000,000 on 10/29/2024.

Largest Sacramento Office Sales in 2024

Property name Address Date Price
Wells Fargo Center 400 Capitol Mall 10/29/2024 $117,000,000
Sutter Medical Plaza Sacramento 1625 Stockton Blvd 10/24/2024 $52,000,000
UC Davis Medical Group Midtown Clinic & Alhambra Professional Building 3160 Folsom Blvd 6/18/2024 $52,000,000
1201 Alhambra Blvd 1201 Alhambra Blvd 6/21/2024 $45,555,000
3600-3620 American River Drive 3600 American River Drive 11/19/2024 $37,300,000
Data provided by Commercial Edge

Coworking Spaces in California

2024 Office Construction in Sacramento, CA

  • Sacramento, CA Total SF completed in 2024 1,250,000
  • Sacramento, CA Total SF under construction in 2025 568,594

During 2024, 1,250,000 square feet of new office space were delivered across the market. At the close of 2024, the Sacramento office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 1,250,000 square feet of office space. Looking forward, development activity throughout 2025 is estimated to add 568,594 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Sacramento
Office building Address SF Completed
LSTE East 200 Aggie Square Way, 95817 314,000 2025
Lifelong Learning Tower 300 Aggie Square Way, 95817 255,000 2025
2599 Arena Blvd 2599 Arena Blvd, 95834 113,000 2020
Innovate Corporate Center 2599 Arena Boulevard, 95834 110,000 2020
2599 Arena Blvd 2599 Arena Blvd, 95834 85,000 2020
River Plaza Office Building 2600 River Plaza Drive, 95833 60,000 2019
Office at The Ice Blocks 1610 R Street, 95811 171,924 2018
8670 Fruitridge Road 8670 Fruitridge Road, 95826 243,675 2017
Bank of the West Tower 500 Capitol Mall, 95814 445,984 2009
U.S. Bank Tower 621 Capitol Mall, 95814 366,337 2008

Worth noting among recent office completions on the Sacramento market is LSTE East, which is currently the largest new office development in the city, at 314,000 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 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 Sacramento 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.