Sacramento Office Rent Price & Sales Report

2022 Office Space Rent & Sales

  • $26.58 2022 Avg. Asking Rent
  • 17.65% 2022 Office Vacancy Rate
  • $208.2M2022 Total Office Sales
  • $167.08Avg. Sale Price/SF

Sacramento office price per square foot in 2022 was $26.58 on average. The local office market recorded an average vacancy rate of 17.65% across all asset classes combined. The 16 transactions that closed here throughout 2022 amounted to a total sale volume of $208.2M. Sacramento office space commanded an average sale price per square foot of $167.08.

Average Rent by Office Class

2022 Average Office Rent per Square Foot

  • Sacramento Class A & A+ Office Space$35.95
  • Sacramento Class B Office Space$24.10
  • Sacramento Class C Office Space$18.75
  • California Class A & A+ Office Space$59.32
  • California Class B Office Space$37.75
  • California Class C Office Space$25.55

Sacramento, CA Office Asking Rents by Class

Average office rent in Sacramento rested at $26.58 per square foot in 2022. 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 $35.95 per square foot. Across all submarkets, class B office space recorded an average asking rent of $24.10 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $18.75 per square foot, on average. Comparably, statewide California average office rents by class in 2022 were: $59.32 per square foot for class A office space; $37.75 per square foot for class B office space; $25.55 per square foot for class C office space.

2022 Office Vacancy Rates in Sacramento

Submarket Asking Rents Vacancy Rates
Downtown $38.66 18.15%
Midtown $29.89 10.74%
Elk Grove $28.66 2.18%
East Sacramento $26.53 9.46%
North Sacramento $25.08 23.37%
Highway 50 Corridor $22.12 26.09%
Point West $20.74 17.68%
Carmichael - Fair Oaks $18.20 29.00%
South Sacramento $18.04 7.82%
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 17.65% in 2022. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Sacramento was 2.18% in the Elk Grove submarket, while the highest office vacancy in the market was 29.00%, recorded in Carmichael - Fair Oaks.

Office Spaces for Rent in California

Sacramento Office Sale Price per SF

  • $167.082022 Avg. Price per SF
  • 6.19%Y-o-Y Avg. PpSF Change
  • $208.2M2022 Office Sales Volume
  • 162022 Number of Transactions

Sacramento, CA Sale Price per SF Trend

  • Sacramento Avg. Sale Price per SF in 2022$167.08
  • California Avg. Sale Price per SF in 2022$396.51
Sacramento office space cost in 2022 marked a +6.19% change compared to the previous year. The sale price for office space in Sacramento averaged $167.08 per square foot in 2022, across all market subdivisions and asset classes. Conversely, the statewide California average office sale price during the same time period was $396.51 per square foot.

2022 Office Sales Volume

  • Sacramento, CA Total Office Sales Volume in 2022 $208.2M
  • Sacramento, CA Total Number of Office Sales Closed in 2022 16
A total of 16 deals closed on the Sacramento office market in 2022, adding up to a yearly sales volume of $208.2M. Notably, the largest transaction on the market saw 925 L Street change hands for $55,100,000 on 9/14/2022.

Largest Sacramento Office Sales in 2022

Property name Address Date Price
925 L Street 925 L Street 9/14/2022 $55,100,000
Harvard Square 2180 Harvard Street 8/31/2022 $22,000,000
South Valley Centre - 8241 & 8247 East Stockton Blvd 8241 East Stockton Blvd 3/17/2022 $9,899,500
350 University Avenue 350 University Avenue 8/1/2022 $8,745,000
7700 College Town Drive 7700 College Town Drive 12/6/2022 $7,300,000
Data provided by Commercial Edge

Coworking Spaces in California

2022 Office Construction in Sacramento, CA

  • Sacramento, CA Total SF completed in 2022 511,350

During 2022, 511,350 square feet of new office space were delivered across the market. At the close of 2022, the Sacramento office inventory included 2 buildings equal to or larger than 25,000 square feet, which comprised 511,350 square feet of office space.

Largest Office Properties Recently Completed in Sacramento
Office building Address SF Completed
4124 East Commerce Way 4124 East Commerce Way, 95834 20,000 2023
4124 East Commerce Way 4124 East Commerce Way, 95834 20,000 2023
4124 E Commerce Way 4124 E Commerce Way, 95834 20,000 2022
Buildings A & B 4151-4191 E Commerce Way, 517,000 2021
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
Bank of the West Tower 500 Capitol Mall, 95814 445,984 2009

Worth noting among recent office completions on the Sacramento market is 4124 East Commerce Way, which is currently the largest new office development in the city, at 20,000 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 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. 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.