Santa Ana Office Rent Price & Sales Report

2022 Office Space Rent & Sales

  • $27.79 2022 Avg. Asking Rent
  • -4.10% Y-o-Y Avg. Asking Rent Change
  • 21.96% 2022 Office Vacancy Rate
  • $44.8M2022 Total Office Sales
  • $170.25Avg. Sale Price/SF

Santa Ana office price per square foot in 2022 was $27.79 on average. This marked a -4.10% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 21.96% across all asset classes combined. The 5 transactions that closed here throughout 2022 amounted to a total sale volume of $44.8M. Santa Ana office space commanded an average sale price per square foot of $170.25.

Average Rent by Office Class

2022 Average Office Rent per Square Foot

  • Santa Ana Class B Office Space$29.03
  • Santa Ana Class C Office Space$21.92
  • California Class A & A+ Office Space$59.32
  • California Class B Office Space$37.75
  • California Class C Office Space$25.55

Santa Ana, CA Office Asking Rents by Class

2022 Office Vacancy Rates in Santa Ana

Submarket Asking Rents Vacancy Rates
Saint Joseph Center $34.27 14.89%
Irvine Business Complex $31.23 14.82%
South Coast Metro $31.06 19.58%
Tustin $29.59 17.70%
Santa Ana $21.31 12.80%
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 Santa Ana market was 21.96% in 2022. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Santa Ana was 12.80% in the Santa Ana submarket, while the highest office vacancy in the market was 19.58%, recorded in South Coast Metro.

Office Spaces for Rent in California

Santa Ana Office Sale Price per SF

  • $170.252022 Avg. Price per SF
  • -28.98%Y-o-Y Avg. PpSF Change
  • $44.8M2022 Office Sales Volume
  • 52022 Number of Transactions

Santa Ana, CA Sale Price per SF Trend

  • Santa Ana Avg. Sale Price per SF in 2022$170.25
  • California Avg. Sale Price per SF in 2022$396.51
Santa Ana office space cost in 2022 marked a -28.98% change compared to the previous year. The sale price for office space in Santa Ana averaged $170.25 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

  • Santa Ana, CA Total Office Sales Volume in 2022 $44.8M
  • Santa Ana, CA Total Number of Office Sales Closed in 2022 5
A total of 5 deals closed on the Santa Ana office market in 2022, adding up to a yearly sales volume of $44.8M. Notably, the largest transaction on the market saw Tustin Corporate Plaza change hands for $14,300,000 on 6/16/2022.

Largest Santa Ana Office Sales in 2022

Property name Address Date Price
Tustin Corporate Plaza 1401 North Tustin Avenue 6/16/2022 $14,300,000
1600 Broadway 1600 North Broadway 4/1/2022 $11,800,000
811 North Broadway 811 North Broadway 1/14/2022 $6,525,000
801 North Parkcenter Drive 801 North Parkcenter Drive 5/6/2022 $6,312,000
825 North Parkcenter Drive 825 North Parkcenter Drive 9/16/2022 $5,900,000
Data provided by Commercial Edge

Coworking Spaces in California

Largest Office Properties Recently Completed in Santa Ana
Office building Address SF Completed
Parkcenter Plaza 601 North Parkcenter Drive, 92705 29,439 2012
MacArthur Place 1 MacArthur Pl., 92707 208,256 2001
Twin Towers at MacArthur Place - 1 MacArthur Place 1 MacArthur Place, 92707 204,009 2001
3601 West Sunflower Avenue 3601 West Sunflower Avenue, 92704 53,484 2000
3 MacArthur Place 3 MacArthur Place, 92707 246,763 1999
Red Hill Technology Center 2850 South Red Hill Avenue, 92705 94,705 1999
Lake Center - 3120 West Lake Center Drive 3120 West Lake Center Drive, 92704 60,634 1995
Lake Center - 3100 West Lake Center Drive 3100 West Lake Center Drive, 92704 60,462 1995
Tustin Centre I 1551 North Tustin Avenue, 92705 196,458 1991
Alton Deere Plaza 1920 East Deere Avenue, 92705 182,030 1990

Worth noting among recent office completions on the Santa Ana market is Parkcenter Plaza, which is currently the largest new office development in the city, at 29,439 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 Santa Ana 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.