2024 Office Space Rent & Sales
- $86.62 2024 Avg. Asking Rent
- 26.90% 2024 Office Vacancy Rate
South San Francisco office price per square foot in 2024 was $86.62 on average. The local office market recorded an average vacancy rate of 26.90% across all asset classes combined.
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
- California Class A & A+ Office Space$60.31
- California Class B Office Space$38.42
- California Class C Office Space$26.20
South San Francisco, CA Office Asking Rents by Class
Office Spaces for Rent in California
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2024 Office Construction in South San Francisco, CA
- South San Francisco, CA Total SF completed in 2024 1,198,000
- South San Francisco, CA Total SF under construction in 2025 326,000
During 2024, 1,198,000 square feet of new office space were delivered across the market. At the close of 2024, the South San Francisco office inventory included 5 buildings equal to or larger than 25,000 square feet, which comprised 1,198,000 square feet of office space. Looking forward, development activity throughout 2025 is estimated to add 326,000 square feet of office space to the market, before year-end.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Kilroy Oyster Point - II | 373 Oyster Point Blvd, 94080 | 865,000 | 2025 |
| Southline - Building 1 | 30 Tanforan Avenue, 94080 | 375,000 | 2024 |
| Vantage - Building B | 494 Forbes Blvd, 94080 | 188,000 | 2024 |
| Gateway of Pacific V - North Building | 475 Eccles Avenue, 94080 | 160,000 | 2024 |
| Gateway of Pacific V - South Building | 485 Eccles Avenue, 94080 | 160,000 | 2024 |
| The Nexus on Grand | 233 East Grand Avenue, 94080 | 148,500 | 2023 |
| 201 Haskins Way | 201 Haskins Way, 94080 | 311,368 | 2021 |
| The Cove at Oyster Point VII | 131 Oyster Point Blvd, 94080 | 175,830 | 2019 |
| Genesis - North Tower | 2 Tower Place, 94080 | 381,523 | 2018 |
| 161 El Camino Real | 161 El Camino Real, 94080 | 3,010 | 2017 |
Worth noting among recent office completions on the South San Francisco market is Kilroy Oyster Point - II, which is currently the largest new office development in the city, at 865,000 square feet.
See reports for other markets
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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 South San Francisco 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.