Torrance Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $33.23 2024 Avg. Asking Rent
  • 6.96% 2024 Office Vacancy Rate
  • $90M2024 Total Office Sales
  • $289.26Avg. Sale Price/SF

Torrance office price per square foot in 2024 was $33.23 on average. The local office market recorded an average vacancy rate of 6.96% across all asset classes combined. The 3 transactions that closed here throughout 2024 amounted to a total sale volume of $90M. Torrance office space commanded an average sale price per square foot of $289.26.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • California Class A & A+ Office Space$60.31
  • California Class B Office Space$38.42
  • California Class C Office Space$26.20

Torrance, CA Office Asking Rents by Class

2024 Office Vacancy Rates in Torrance

Submarket Asking Rents Vacancy Rates
South Bay $34.48 9.33%
190th Street Corridor $31.80 1.09%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Torrance market was 6.96% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Torrance was 1.09% in the 190th Street Corridor submarket, while the highest office vacancy in the market was 9.33%, recorded in South Bay.

Office Spaces for Rent in California

Torrance Office Sale Price per SF

  • $289.262024 Avg. Price per SF
  • 19.89%Y-o-Y Avg. PpSF Change
  • $90M2024 Office Sales Volume
  • 32024 Number of Transactions

Torrance, CA Sale Price per SF Trend

  • Torrance Avg. Sale Price per SF in 2024$289.26
  • California Avg. Sale Price per SF in 2024$249.15
Torrance office space cost in 2024 marked a +19.89% change compared to the previous year. The sale price for office space in Torrance averaged $289.26 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide California average office sale price during the same time period was $249.15 per square foot.

2024 Office Sales Volume

  • Torrance, CA Total Office Sales Volume in 2024 $90M
  • Torrance, CA Total Number of Office Sales Closed in 2024 3
A total of 3 deals closed on the Torrance office market in 2024, adding up to a yearly sales volume of $90M. Notably, the largest transaction on the market saw Palm Court change hands for $41,000,000 on 7/23/2024.
Data provided by Commercial Edge

Coworking Spaces in California

2024 Office Construction in Torrance, CA

Largest Office Properties Recently Completed in Torrance
Office building Address SF Completed
78 West 1978 W Carson St, 90501 46,631 2022
Cubework Torrance 20100 S Western Avenue, 90501 116,433 2001
22717-22719 Hawthorne Boulevard 22717-22719 Hawthorne Boulevard, 90505 10,396 2000
Kenneth E. Watts Medical Plaza 20911 Earl Street, 90503 60,746 1990
Madrona Office Complex 20770 - 20810 Madrona Ave., 90503 211,407 1989
Mariner Court 3625 Del Amo Blvd, 90503 109,841 1989
Mariner Court 3625 Del Amo Blvd, 90503 109,841 1989
The Torrance 21250 Hawthorne Blvd, 90503 306,765 1988
The Torrance 21250 Hawthorne Blvd, 90503 20,000 1988
Crenshaw Medical Bldg 23000 Crenshaw Blvd, 90505 16,488 1986

Worth noting among recent office completions on the Torrance market is 78 West, which is currently the largest new office development in the city, at 46,631 square feet.

Data provided by Commercial Edge

See reports for other 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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Torrance 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.