2022 Office Space Rent & Sales
- $47.51 2022 Avg. Asking Rent
- 16.09% 2022 Office Vacancy Rate
- $1.6B2022 Total Office Sales
- $423.64Avg. Sale Price/SF
San Diego office price per square foot in 2022 was $47.51 on average. The local office market recorded an average vacancy rate of 16.09% across all asset classes combined. The 44 transactions that closed here throughout 2022 amounted to a total sale volume of $1.6B. San Diego office space commanded an average sale price per square foot of $423.64.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- San Diego Class A & A+ Office Space$55.20
- San Diego Class B Office Space$35.41
- California Class A & A+ Office Space$59.32
- California Class B Office Space$37.75
- California Class C Office Space$25.55
San Diego, CA Office Asking Rents by Class
2022 Office Vacancy Rates in San Diego
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Sorrento Valley | $77.14 | 18.88% |
Carmel Valley | $56.66 | 9.94% |
University City | $48.67 | 11.09% |
Mission Valley | $45.57 | 16.91% |
Downtown | $44.42 | 28.14% |
Rancho Bernardo | $39.72 | 7.90% |
Scripps Ranch | $37.98 | 9.08% |
Kearny Mesa | $35.56 | 16.90% |
East San Diego | $35.09 | 10.27% |
West San Diego | $32.12 | 13.42% |
Poway | $30.64 | 11.24% |
Torrey Pines | $29.88 | 5.58% |
South San Diego | $28.06 | 6.69% |
Mira Mesa - Rancho Penasquitos | $25.53 | 3.64% |
San Diego Office Sale Price per SF
- $423.642022 Avg. Price per SF
- 5.87%Y-o-Y Avg. PpSF Change
- $1.6B2022 Office Sales Volume
- 442022 Number of Transactions
San Diego, CA Sale Price per SF Trend
- San Diego Avg. Sale Price per SF in 2022$423.64
- California Avg. Sale Price per SF in 2022$396.51
2022 Office Sales Volume
- San Diego, CA Total Office Sales Volume in 2022 $1.6B
- San Diego, CA Total Number of Office Sales Closed in 2022 44
Largest San Diego Office Sales in 2022
Property name | Address | Date | Price |
---|---|---|---|
6114-6154 Nancy Ridge Drive | 6114 Nancy Ridge Drive | 1/27/2022 | $139,000,000 |
Northridge Summit | 12220 Scripps Summit Drive | 4/14/2022 | $76,100,000 |
4215 Sorrento Valley Blvd | 4215 Sorrento Valley Blvd | 1/27/2022 | $60,000,000 |
Sorrento Plaza | 11388 Sorrento Valley Road | 1/27/2022 | $58,500,000 |
13112 Evening Creek Drive South | 13112 Evening Creek Drive South | 9/26/2022 | $55,500,000 |
Coworking Spaces in California
- Los Angeles Coworking Space
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2022 Office Construction in San Diego, CA
- San Diego, CA Total SF completed in 2022 403,694
- San Diego, CA Total SF under construction in 2023 2,551,746
During 2022, 403,694 square feet of new office space were delivered across the market. At the close of 2022, the San Diego office inventory included 5 buildings equal to or larger than 25,000 square feet, which comprised 403,694 square feet of office space. Looking forward, development activity throughout 2023 is estimated to add 2,551,746 square feet of office space to the market, before year-end.
Office building | Address | SF | Completed |
---|---|---|---|
West | 1011 Union Street, 92101 | 289,000 | 2024 |
The Campus at Horton - Bldg. 200 | 200 Horton Plz., 92101 | 204,842 | 2024 |
Aperture Del Mar - Building 4B | NEC of Ted Williams Fwy & Carmel Valley Road, 92130 | 160,101 | 2024 |
Aperture Del Mar - Building 4A | NEC of Ted Williams Fwy & Carmel Valley Road, 92130 | 127,309 | 2024 |
RaDD - 2A - Alley | 825 N. Harbor Dr., 92101 | 69,068 | 2024 |
RaDD - 4A - Edge | 975 Waterfront Pl., 92101 | 41,527 | 2024 |
The Campus at Horton - Bldg. 600 | 300 Horton Plz., 92101 | 37,932 | 2024 |
Callan Ridge | 3030 Callan Road, 92121 | 185,000 | 2023 |
2150 1st Ave | 2150 1st Ave, 92101 | 4,187 | 2022 |
2100 Kettner | 2100 Kettner Blvd, 92101 | 235,000 | 2021 |
Worth noting among recent office completions on the San Diego market is West, which is currently the largest new office development in the city, at 289,000 square feet.
See reports for other markets
- Los Angeles 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
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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 San Diego 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.