Santa Ana Office Market Trends

Office Rental Market

  • $28.35 2019 Avg. Asking Rent
  • 12.97 % 2019 Avg. Vacancy Rate
  • 0 2019 Office Completions (Sqft)
  • 303,660 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Santa Ana was $28.35 per square foot, and the office vacancy rate across the market averaged 12.97 %. During 2019, developers added 0 square feet of new office space to the Santa Ana market inventory. Office developments estimated for delivery during 2020 total 303,660 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Santa Ana Class A Office Buildings$31.35
  • Santa Ana Class B Office Buildings$27.93
  • Santa Ana Class C Office Buildings$27.24
  • CA Class A Office Buildings$51.59
  • CA Class B Office Buildings$34.34
  • CA Class C Office Buildings$22.62

Santa Ana, CA Office Asking Rents by Class

Office asking rents vary across the Santa Ana office market depending on several factors, one of which is property class. While rents for Class A office buildings in Santa Ana averaged $31.35 per square foot in 2019, Class B office properties garnered average rental rates of $27.93 per square foot. Rental rates for Class C office property in Santa Ana averaged $27.24 per square foot. On a statewide level, Class B office space rents averaged $34.34 per square foot, while rents for Class A office space across California averaged $51.59 per square foot. On average, Class C office properties in California commanded rents of $22.62 per square foot.

2019 OFFICE VACANCY RATES

Submarket Asking Rents Vacancy Rates
South Coast Metro $32.70 14.45 %
Tustin $30.89 8.20 %
Irvine Business Complex $28.89 15.31 %
Santa Ana $25.11 8.51 %
Data provided by Commercial Edge
  • The lowest office vacancy rate in 2019 in Santa Ana was 8.20 % in the Tustin submarket, where asking rents averaged $30.89.
  • The highest office vacancy rate in 2019 in Santa Ana was 15.31 % in the Irvine Business Complex submarket, where asking rents averaged $28.89.

OFFICE CONSTRUCTION IN Santa Ana, CA

  • Santa Ana, CA Total Sqft completed in 2019 0
  • Santa Ana, CA Total Sqft under construction in 2020 303,660
10 Largest Office Buildings in Santa Ana
Building name Address Total Sqft Year built
Orange County Business Center 1261 East Dyer Road, 92705 437,000 1986
1761-1801 East St. Andrew Place 1801 East St. Andrew Place, 92705 367,045 1989
Xerox Centre 1851 East 1st Street, 92705 321,836 1988
Griffin Towers - 5 Hutton Centre Drive 5 Hutton Centre Drive, 92707 280,219 1987
First American Corporation World Headquarters - Phase II 4 First American Way, 92707 275,000 2006
Griffin Towers - 6 Hutton Centre Drive 6 Hutton Centre Drive, 92707 269,729 1987
3 MacArthur Place 3 MacArthur Place, 92707 246,763 1999
1750 East Fourth Street 1750 East 4th Street, 92705 229,989 1994
Lakeside Tower at MacArthur Place 4 Hutton Centre Drive, 92707 216,446 1988
Main Street Town Center 2677 North Main Street, 92705 215,003 1986
Largest Office Properties Recently Completed in Santa Ana
Office building Address Sqft Completed
Olen Parkcenter Plaza 601 North Parkcenter Drive, 92705 29,439 2012
Tustin Centre II 1525 North Tustin Avenue, 92705 82,042 2010
Santa Ana Medical Office Building 2212 East 4th Street, 92705 56,800 2008
First American Corporation World Headquarters - Phase II 4 First American Way, 92707 275,000 2006
1900 East 1st Street 1900 East 1st Street, 92705 38,866 2004
17th Street Office Park 1575 East 17th Street, 92705 57,000 2002
Old Santa Ana City Hall 217 North Main Street, 92701 35,100 2002
Richman Professional Center 2090 NE Tustin Avenue, 92705 25,000 2002
Twin Towers at MacArthur Place - 2 MacArthur Place 2 MacArthur Place, 92707 208,041 2001
Twin Towers at MacArthur Place - 1 MacArthur Place 1 MacArthur Place, 92707 204,009 2001
Data provided by Commercial Edge

Office Spaces for Rent in California

SANTA ANA OFFICE SALES TRENDS

  • $303.362019 Avg. Price per Sqft
  • 104.85 %Y-o-Y Avg. PpSF Change
  • $375.4M2019 Office Sales Volume
  • 72019 Number of Transactions

In 2019, office sales in Santa Ana averaged $303.36 per square foot. This marked a 104.85 % increase in office price per square foot, compared to the previous year. A total of 7 office sales closed on the Santa Ana office market in 2019, amounting to a total sales volume of $375.4M.

Average Office Sale Price per Sqft

Santa Ana, CA Sales Trends

  • Santa Ana Price per Sqft$303.36
  • California Price per Sqft$437.86

Office Sales - Trend and Volume

  • Santa Ana, CA Total Office Sales Volume in 2019 $375.4M
  • Santa Ana, CA Total Number of Office Sales Closed in 2019 7

Largest Santa Ana Office Sales in 2019

Property name Address Date Price
Twin Towers at MacArthur Place - 2 MacArthur Place 2 MacArthur Place 6/14/2019 $83,000,000
Lakeside Tower at MacArthur Place 4 Hutton Centre Drive 7/8/2019 $55,400,000
Twin Towers at MacArthur Place - 1 MacArthur Place 1 MacArthur Place 4/24/2019 $54,000,000
Pacific Center - 1610 1610 East St. Andrew Place 8/8/2019 $50,875,440
Pacific Center - 1600 1600 East St. Andrew Place 8/8/2019 $46,624,560
Data provided by Commercial Edge

See trends for nearby markets

The Santa Ana office market contains an inventory of 11,544,660 square feet of office space, in 175 buildings that are equal to or larger than 25,000 square feet.

This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive 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.