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)
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 % |
- 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
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 |
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 |
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 |
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.