2021 Office Space Rent & Sales
- $41.71 2021 Avg. Asking Rent
- -0.84% Y-o-Y Avg. Asking Rent Change
- 16.88% 2021 Office Vacancy Rate
- $2.5B2021 Total Office Sales
- $409.67Avg. Sale Price/SF
San Diego office price per square foot in 2021 was $41.71 on average. This marked a -0.84% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 16.88% across all asset classes combined. The 60 transactions that closed here throughout 2021 amounted to a total sale volume of $2.5B. San Diego office space commanded an average sale price per square foot of $409.67.
Average Rent by Office Class
2021 Average Office Rent per Square Foot
- San Diego Class A & A+ Office Space$47.11
- San Diego Class B Office Space$34.24
- California Class A & A+ Office Space$55.83
- California Class B Office Space$37.04
- California Class C Office Space$33.83
San Diego, CA Office Asking Rents by Class
2021 Office Vacancy Rates in San Diego
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Carmel Valley | $53.84 | 16.29% |
Downtown | $47.42 | 24.14% |
Torrey Pines | $47.01 | 14.57% |
University City | $46.71 | 14.05% |
Mission Valley | $40.95 | 13.33% |
Scripps Ranch | $35.95 | 19.87% |
Sorrento Valley | $35.87 | 15.48% |
Kearny Mesa | $34.71 | 18.71% |
West San Diego | $34.04 | 13.83% |
Rancho Bernardo | $31.66 | 12.94% |
East San Diego | $29.43 | 9.86% |
Mira Mesa - Rancho Penasquitos | $23.15 | 14.66% |
San Diego Office Sale Price per SF
- $409.672021 Avg. Price per SF
- 4.01%Y-o-Y Avg. PpSF Change
- $2.5B2021 Office Sales Volume
- 602021 Number of Transactions
San Diego, CA Sale Price per SF Trend
- San Diego Avg. Sale Price per SF in 2021$409.67
- California Avg. Sale Price per SF in 2021$431.23
2021 Office Sales Volume
- San Diego, CA Total Office Sales Volume in 2021 $2.5B
- San Diego, CA Total Number of Office Sales Closed in 2021 60
Largest San Diego Office Sales in 2021
Property name | Address | Date | Price |
---|---|---|---|
1 Columbia Place | 401 West A Street | 6/21/2021 | $182,500,000 |
Aventine | 8910 University Center Lane | 10/29/2021 | $170,000,000 |
701 B Street | 701 B Street | 6/21/2021 | $142,500,000 |
Lusk Business Park - 6150, 6160 Lusk Blvd & 10225 Barnes Canyon Road | 6150 Lusk Blvd | 10/20/2021 | $116,500,000 |
Sorrento Corporate Center | 9950 Barnes Canyon Road | 12/21/2021 | $115,000,000 |
Coworking Spaces in California
- Los Angeles Coworking Space
- San Francisco Coworking Space
- San Diego Coworking Space
- East Bay Coworking Space
- Irvine Coworking Space
- Sacramento Coworking Space
- Oakland Coworking Space
- Newport Beach Coworking Space
- San Jose Coworking Space
- Long Beach Coworking Space
- Beverly Hills Coworking Space
- Carlsbad Coworking Space
- Pasadena Coworking Space
- Santa Monica Coworking Space
- Torrance Coworking Space
- Palo Alto Coworking Space
- Glendale Coworking Space
- Berkeley Coworking Space
- Thousand Oaks Coworking Space
- Costa Mesa Coworking Space
2021 Office Construction in San Diego, CA
- San Diego, CA Total SF completed in 2021 1,160,018
- San Diego, CA Total SF under construction in 2022 478,694
During 2021, 1,160,018 square feet of new office space were delivered across the market. At the close of 2021, the San Diego office inventory included 10 buildings equal to or larger than 25,000 square feet, which comprised 1,160,018 square feet of office space. Looking forward, development activity throughout 2022 is estimated to add 478,694 square feet of office space to the market, before year-end.
Office building | Address | SF | Completed |
---|---|---|---|
The RaDD - 2B - Rise | 800 Pacific Coast Hwy., 92101 | 729,930 | 2023 |
The RaDD - 4B - Vida | 925 Waterfront Pl., 92101 | 396,154 | 2023 |
The Campus at Horton - Bldg. 100 | 100 Horton Plz., 92101 | 389,000 | 2023 |
The Campus at Horton - Bldg. 200 | 200 Horton Plz., 92101 | 256,000 | 2023 |
The RaDD - 3A - Core | 950 Waterfront Pl., 92101 | 221,341 | 2023 |
La Jolla Commons - Tower III | 4727 Executive Drive, 92122 | 212,851 | 2023 |
The Campus at Horton - Bldg. 300 | 300 Horton Plz., 92101 | 124,000 | 2023 |
The RaDD - 2A - Alley | 825 N. Harbor Dr., 92101 | 117,186 | 2023 |
The RaDD - 4A - Edge | 975 Waterfront Pl., 92101 | 88,457 | 2023 |
2100 Kettner | 2100 Kettner Blvd, 92101 | 235,000 | 2021 |
Worth noting among recent office completions on the San Diego market is The RaDD - 2B - Rise, which is currently the largest new office development in the city, at 729,930 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
- Santa Clara Office Rent Price
- Santa Monica Office Rent Price
- Carlsbad Office Rent Price
- La Jolla Office Rent Price
- Chula Vista Office Rent Price
- Escondido Office Rent Price
- La Mesa Office Rent Price
- Oceanside Office Rent Price
- Encinitas Office Rent Price
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 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.