Torrance Office Rent Price & Sales Report

2022 Office Space Rent & Sales

  • $37.31 2022 Avg. Asking Rent
  • 8.55% 2022 Office Vacancy Rate
  • $176.1M2022 Total Office Sales
  • $368.57Avg. Sale Price/SF

Torrance office price per square foot in 2022 was $37.31 on average. The local office market recorded an average vacancy rate of 8.55% across all asset classes combined. The 7 transactions that closed here throughout 2022 amounted to a total sale volume of $176.1M. Torrance office space commanded an average sale price per square foot of $368.57.

Average Rent by Office Class

2022 Average Office Rent per Square Foot

  • Torrance Class A & A+ Office Space$37.87
  • Torrance Class B Office Space$37.06
  • California Class A & A+ Office Space$59.32
  • California Class B Office Space$37.75
  • California Class C Office Space$25.55

Torrance, CA Office Asking Rents by Class

2022 Office Vacancy Rates in Torrance

Submarket Asking Rents Vacancy Rates
South Bay $37.31 10.90%
190th Street Corridor $30.00 3.03%
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 8.55% in 2022. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Torrance was 3.03% in the 190th Street Corridor submarket, while the highest office vacancy in the market was 10.90%, recorded in South Bay.

Office Spaces for Rent in California

Torrance Office Sale Price per SF

  • $368.572022 Avg. Price per SF
  • 30.27%Y-o-Y Avg. PpSF Change
  • $176.1M2022 Office Sales Volume
  • 72022 Number of Transactions

Torrance, CA Sale Price per SF Trend

  • Torrance Avg. Sale Price per SF in 2022$368.57
  • California Avg. Sale Price per SF in 2022$396.51
Torrance office space cost in 2022 marked a +30.27% change compared to the previous year. The sale price for office space in Torrance averaged $368.57 per square foot in 2022, across all market subdivisions and asset classes. Conversely, the statewide California average office sale price during the same time period was $396.51 per square foot.

2022 Office Sales Volume

  • Torrance, CA Total Office Sales Volume in 2022 $176.1M
  • Torrance, CA Total Number of Office Sales Closed in 2022 7
A total of 7 deals closed on the Torrance office market in 2022, adding up to a yearly sales volume of $176.1M. Notably, the largest transaction on the market saw Harbor Gateway Garden Office Park change hands for $39,800,000 on 6/2/2022.

Largest Torrance Office Sales in 2022

Property name Address Date Price
Harbor Gateway Garden Office Park 19401 South Vermont Avenue 6/2/2022 $39,800,000
Tormed Medical Building - 3440 Lomita Blvd 3440 Lomita Blvd 4/28/2022 $37,800,000
H, The 19701 Hamilton Avenue 2/24/2022 $36,100,000
Tormed Medical Building - 3400 Lomita Blvd 3400 Lomita Blvd 4/28/2022 $21,258,000
Voyager Court Business Park - 3547, 3551 & 3555 Voyager Street 3555 Voyager Street 7/13/2022 $20,900,000
Data provided by Commercial Edge

Coworking Spaces in California

2022 Office Construction in Torrance, CA

Largest Office Properties Recently Completed in Torrance
Office building Address SF Completed
Gramercy Plaza 2050 W. 190th St., 90504 157,641 1991
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
Torrance Center Business Park - Kintetsu Torrance Building 21241 South Western Avenue, 90501 48,114 1988
2463 W 208th St #201 & #203, Torrance, CA, 90501 2463 W 208th St, 90501 10,016 1988
Rolling Hills Plaza - 2601 Airport Drive 2601 Airport Drive, 90505 58,000 1987
Del Amo 3501 Sepulveda Blvd., 90505 116,811 1986

Worth noting among recent office completions on the Torrance market is Gramercy Plaza, which is currently the largest new office development in the city, at 157,641 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 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. 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.