2020 Office Space Rent & Sales
- $28.11 2020 Avg. Asking Rent
- -0.86% Y-o-Y Avg. Asking Rent Change
- 17.37% 2020 Office Vacancy Rate
Santa Ana office price per square foot in 2020 was $28.11 on average. This marked a -0.86% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 17.37% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Santa Ana Class A Office Space$33.12
- Santa Ana Class B Office Space$26.47
- Santa Ana Class C Office Space$23.08
- California Class A Office Space$55.92
- California Class B Office Space$35.12
- California Class C Office Space$23.50
Santa Ana, CA Office Asking Rents by Class
Average office rent in Santa Ana rested at $28.11 per square foot in 2020. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Santa Ana averaged $33.12 per square foot. Across all submarkets, class B office space recorded an average asking rent of $26.47 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $23.08 per square foot, on average. Comparably, statewide California average office rents by class in 2020 were: $55.92 per square foot for class A office space; $35.12 per square foot for class B office space; $23.50 per square foot for class C office space.
2020 Office Vacancy Rates in Santa Ana
|Submarket||Asking Rents||Vacancy Rates|
|South Coast Metro||$30.56||23.23%|
|Irvine Business Complex||$25.75||14.52%|
2020 Office Construction in Santa Ana, CA
- Santa Ana, CA Total SF completed in 2020
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Santa Ana office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.
|Park & Paseo - Office||1951 East Dyer Road, 92705||73,000||2022|
|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 - 4 & 5 First American Way||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|
Worth noting among recent office completions on the Santa Ana market is Park & Paseo - Office, which is currently the largest new office development in the city, at 73,000 square feet.
See reports for nearby markets
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 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. 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.