2020 Office Space Rent & Sales
- $67.19 2020 Avg. Asking Rent
- 3.52% Y-o-Y Avg. Asking Rent Change
- 7.04% 2020 Office Vacancy Rate
Sunnyvale office price per square foot in 2020 was $67.19 on average. This marked a +3.52% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 7.04% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Sunnyvale Class A Office Space$71.49
- Sunnyvale Class B Office Space$52.45
- Sunnyvale Class C Office Space$32.20
- California Class A Office Space$55.92
- California Class B Office Space$35.12
- California Class C Office Space$23.50
Sunnyvale, CA Office Asking Rents by Class
Average office rent in Sunnyvale rested at $67.19 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 Sunnyvale averaged $71.49 per square foot. Across all submarkets, class B office space recorded an average asking rent of $52.45 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $32.20 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 Sunnyvale
|Submarket||Asking Rents||Vacancy Rates|
|Sunnyvale - West||$70.88||13.56%|
|Sunnyvale - East||$52.97||8.56%|
2020 Office Construction in Sunnyvale, CA
- Sunnyvale, CA Total SF completed in 2020 977,733
- Sunnyvale, CA Total SF under construction in 2021 1,363,338
During 2020, 977,733 square feet of new office space were delivered across the market. At the close of 2020, the Sunnyvale office inventory included 6 buildings equal to or larger than 25,000 square feet, which comprised 977,733 square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 1,363,338 square feet of office space to the market, before year-end.
|Central Station||285 Sobrante Way, 94086||124,870||2021|
|CENTRAL STATION||285 Sobrante Way, 94086||0||2021|
|The Grove||223 Mathilda Ave, N., 94086||154,987||2018|
|340 & 360 North Pastoria Avenue||340 North Pastoria Avenue, 94085||36,894||2016|
|309 North Pastoria Avenue||309 North Pastoria Avenue, 94085||71,715||2012|
|525 Almanor Avenue||525 Almanor Avenue, 94085||166,300||2008|
|Moffett Towers||1050 Enterprise Way, 94089||316,604||2007|
|Cityline Downtown Sunnyvale||100 Mathilda Place, 94086||217,078||2001|
|Cityline Downtown Sunnyvale||150 Mathilda Place, 94086||141,062||2001|
|SUNNYVALE BUSINESS PARK||640 W California Ave , 94086||0||2001|
Worth noting among recent office completions on the Sunnyvale market is Central Station, which is currently the largest new office development in the city, at 124,870 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 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.