Sunnyvale Office Market Trends

Office Rental Market

  • $64.91 2019 Avg. Asking Rent
  • 4.78 % 2019 Avg. Vacancy Rate
  • 1,888,026 2019 Office Completions (Sqft)
  • 2,648,587 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Sunnyvale was $64.91 per square foot, and the office vacancy rate across the market averaged 4.78 %. During 2019, developers added 1,888,026 square feet of new office space to the Sunnyvale market inventory. Office developments estimated for delivery during 2020 total 2,648,587 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Sunnyvale Class A Office Buildings$71.42
  • Sunnyvale Class B Office Buildings$48.03
  • Sunnyvale Class C Office Buildings$43.16
  • CA Class A Office Buildings$51.59
  • CA Class B Office Buildings$34.34
  • CA Class C Office Buildings$22.62

Sunnyvale, CA Office Asking Rents by Class

Office asking rents vary across the Sunnyvale office market depending on several factors, one of which is property class. While rents for Class A office buildings in Sunnyvale averaged $71.42 per square foot in 2019, Class B office properties garnered average rental rates of $48.03 per square foot. Rental rates for Class C office property in Sunnyvale averaged $43.16 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
Sunnyvale - West $70.64 7.23 %
Sunnyvale - North $61.89 3.19 %
Sunnyvale - East $50.88 1.87 %
Data provided by Commercial Edge
  • The lowest office vacancy rate in 2019 in Sunnyvale was 1.87 % in the Sunnyvale - East submarket, where asking rents averaged $50.88.
  • The highest office vacancy rate in 2019 in Sunnyvale was 7.23 % in the Sunnyvale - West submarket, where asking rents averaged $70.64.

OFFICE CONSTRUCTION IN Sunnyvale, CA

  • Sunnyvale, CA Total Sqft completed in 2019 1,888,026
  • Sunnyvale, CA Total Sqft under construction in 2020 2,648,587
10 Largest Office Buildings in Sunnyvale
Building name Address Total Sqft Year built
Central Business Park 145 River Rd, 08846 1,168,052 1985
Central & Wolfe 222 North Wolfe Road, 94085 882,857 2018
Arques Campus - Buildings 81 & 85 974 East Arques Avenue, 94085 608,456 1995
Central Research Park 884 Hermosa Court, 94086 468,323 1979
Moffett Towers - Building D 1100 Enterprise Way, 94089 405,688 2013
Moffett Towers II - Building 5 1180 Discovery Way, 94089 350,663 2019
Moffett Towers II - Building 1 1100 Discovery Way, 94089 350,663 2018
Moffett Towers II - Building 4 900 5th Avenue, 94089 350,663 2019
Moffett Towers II - Building 3 1190 Discovery Way, 94089 350,663 2019
Moffett Towers II - Building 2 905 11th Avenue, 94089 350,633 2018
Largest Office Properties Recently Completed in Sunnyvale
Office building Address Sqft Completed
1050 Kifer Road 1050 Kifer Road, 94086 302,173 2021
Mathilda Commons - Building A 625 Mathilda Avenue, 94085 180,660 2021
Mathilda Commons - Building B 655 Mathilda Avenue, 94085 178,141 2021
Fortinet Headquarters @ 901 Kifer Road 901 Kifer Road, 94086 172,740 2021
Moffett Place - 1195 Borregas 1195 Borregas Avenue, 94089 314,352 2020
520 Almanor 520 Almanor Avenue, 94085 231,000 2020
The Catalyst - 684 West Maude Avenue 684 West Maude Avenue, 94085 194,624 2020
Pathline Park - Building 10 625 North Mary Avenue, 94085 121,200 2020
Pathline Park - Building 9 925 West Maude Avenue, 94085 121,200 2020
Moffett Towers II - Building 5 1180 Discovery Way, 94089 350,663 2019
Data provided by Commercial Edge

Office Spaces for Rent in California

SUNNYVALE OFFICE SALES TRENDS

  • $722.762019 Avg. Price per Sqft
  • 31.94 %Y-o-Y Avg. PpSF Change
  • $1.7B2019 Office Sales Volume
  • 102019 Number of Transactions

In 2019, office sales in Sunnyvale averaged $722.76 per square foot. This marked a 31.94 % increase in office price per square foot, compared to the previous year. A total of 10 office sales closed on the Sunnyvale office market in 2019, amounting to a total sales volume of $1.7B.

Average Office Sale Price per Sqft

Sunnyvale, CA Sales Trends

  • Sunnyvale Price per Sqft$722.76
  • California Price per Sqft$437.86

Office Sales - Trend and Volume

  • Sunnyvale, CA Total Office Sales Volume in 2019 $1.7B
  • Sunnyvale, CA Total Number of Office Sales Closed in 2019 10

Largest Sunnyvale Office Sales in 2019

Property name Address Date Price
Yahoo! Sunnyvale Complex - Building E 700 1st Avenue 7/23/2019 $249,301,400
Yahoo! Sunnyvale Complex - Building A 701 1st Avenue 7/23/2019 $213,808,800
Yahoo! Sunnyvale Complex - Building B 701 1st Avenue 7/23/2019 $213,808,800
Grove 221 221 North Mathilda Avenue 3/15/2019 $183,000,000
Yahoo! Sunnyvale Complex - Building F 1350 North Mathilda Avenue 7/23/2019 $105,898,900
Data provided by Commercial Edge

See trends for nearby markets

The Sunnyvale office market contains an inventory of 27,199,500 square feet of office space, in 322 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 Sunnyvale 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.