Highlights
- The average rent for office space in Santa Clara is $46.53 per square foot, 4.16% lower compared to the previous year.
- The average sale price for office space in Santa Clara is $286.12 per square foot, marking an increase of 18.63% compared to 2024.
- The market’s vacancy rate stands at 20.60%, higher than the state average of California, which is 18.44%.
2025 Office Space Rent & Sales
- $46.53 2025 Avg. Asking Rent
- -4.16% Y-o-Y Avg. Asking Rent Change
- 20.60% 2025 Office Vacancy Rate
- $572.9M2025 Total Office Sales
- $286.12Avg. Sale Price/SF
What is the average asking rent price for office space in Santa Clara?
Average asking rents for office space here stand at $46.53 per square foot. The local office market recorded an average vacancy rate of 20.60% in 2025, unchanged from 20.60% in 2024.
Office transactions in the local market in 2025 totaled a sales volume of $572.9M across 13 sales. These transactions commanded an average sale price per square foot of $286.12.
Santa Clara, CA Office Asking Rents by Class
What is the average office rent per square foot by property class in Santa Clara?
- Avg. Asking Rent Class A & A+$55.61
- Avg. Asking Rent Class B$35.93
What is the average office rent per square foot by property class in CA?
- Avg. Asking Rent Class A & A+$58.81
- Avg. Asking Rent Class B$37.82
- Avg. Asking Rent Class C$22.26
For comparison, the average rent for Class A and A+ office space in California was $58.81 per square foot. The state-wide average for Class B space was $37.82 per square foot, and Class C office spaces averaged $22.26 per square foot.
Santa Clara, CA Office Indicators by Submarket
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Sunnyvale - East | $49.38 | 15.44% |
| Santa Clara - North | $48.44 | 26.72% |
| Cupertino | $48.39 | 26.01% |
| Santa Clara - South | $43.30 | 13.89% |
2025 Office Sales Volume
- $286.122025 Avg. Price per SF
- 18.63%Y-o-Y Avg. PpSF Change
- $572.9M2025 Office Sales Volume
- 132025 Number of Transactions
What is the average sale price per square foot for office space in Santa Clara?
Average sale prices for office space in this market recorded a +18.63% change in 2025 compared to the previous year.
Office transactions recorded in the market in 2025 averaged $286.12 per square foot. For comparison, the statewide California average during the same time period stood at $295.06 per square foot, while the national average was $182.48 per square foot.
Santa Clara, CA Sale Price per SF Trend
- Santa Clara Avg. Sale Price per SF in 2025$286.12
- California Avg. Sale Price per SF in 2025$295.06
What was the total office sales volume in Santa Clara in 2025?
The local office market recorded 13 deals in 2025, adding up to a yearly sales volume of $572.9M.
- Santa Clara, CA Total Office Sales Volume in 2025 $572.9M
- Santa Clara, CA Total Number of Office Sales Closed in 2025 13
What were the largest office building sales in Santa Clara in 2025?
The market’s largest transaction last year was the sale of Santa Clara Commerce Park for $123,000,000 on 5/1/2025. The next-highest sale was the transaction involving 2701 San Tomas Expwy, which traded for $84,755,000. The third-largest transaction was the sale of @Central for $55,500,000.
| Property name | Address | Date | Price |
|---|---|---|---|
| Santa Clara Commerce Park | 2348 Walsh Avenue | 5/1/2025 | $123,000,000 |
| 2701 San Tomas Expwy | 2701 San Tomas Expwy | 5/6/2025 | $84,755,000 |
| @Central | 2890 De La Cruz Blvd | 11/26/2025 | $55,500,000 |
| 3250-3270 Jay Street | 3250 Jay Street | 2/28/2025 | $21,150,000 |
| 4750 Patrick Henry Drive | 4750 Patrick Henry Drive | 6/13/2025 | $19,850,000 |
Office Construction in Santa Clara, CA
What are the largest recent office completions in Santa Clara?
The largest recent office completion here is Great America Commons Portfolio at 637,114 square feet, completed in 2002. The next largest completions are Great America Commons and Santa Clara Square - East Side Campus III.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Stevens Creek Boulevard Office Campus - 5407 Stevens Creek Blvd | 5407 Stevens Creek Blvd, 95050 | 108,000 | 2023 |
| Lawrence Station | 3655 Kifer Road, 95051 | 184,614 | 2021 |
| Mission City Center | 2390 Mission College Blvd-Bldg 1, 95054 | 152,311 | 2018 |
| Santa Clara Square - East Side Campus III | 2535 Augustine Drive, 95054 | 222,529 | 2017 |
| 1600 Duane Ave | 1600 Duane Ave, 95054 | 36,000 | 2017 |
| Santa Clara Square - West Side Campus III | 2625 Augustine Drive, 95054 | 177,384 | 2015 |
| Santa Clara Gateway - 2600 Great America Way | 2600 Great America Way, 95054 | 164,594 | 2014 |
| The Campus @ 3333 - Building A | 3355 Scott Blvd, 95054 | 152,294 | 2014 |
| Great America Commons Portfolio | 4555-4655 Great America Pkwy, 95054 | 637,114 | 2002 |
| Great America Commons | 4555 Great America Pkwy, 95054 | 321,782 | 2002 |
See reports for other markets
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- San Francisco Office Rent Price
- San Diego Office Rent Price
- Sacramento Office Rent Price
- San Jose Office Rent Price
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- Palo Alto Office Rent Price
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- Pasadena Office Rent Price
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Disclaimer
All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.
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 Yardi Research Data can guarantee that the information provided is complete.