Tustin Office Rent Price & Sales Report

2020 Office Space Rent & Sales

  • $33.75 2020 Avg. Asking Rent
  • 20.32% 2020 Office Vacancy Rate

Tustin office price per square foot in 2020 was $33.75 on average. The local office market recorded an average vacancy rate of 20.32% across all asset classes combined.

Average Rent by Office Class

2020 Average Office Rent per Square Foot

  • Tustin Class A Office Space$50.36
  • Tustin Class B Office Space$27.10
  • California Class A Office Space$55.92
  • California Class B Office Space$35.12
  • California Class C Office Space$23.50

Tustin, CA Office Asking Rents by Class

2020 Office Vacancy Rates in Tustin

Submarket Asking Rents Vacancy Rates
Irvine Business Complex $40.82 23.35%
Tustin $28.43 13.01%
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 Tustin market was 20.32% in 2020. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Tustin was 13.01% in the Tustin submarket, while the highest office vacancy in the market was 23.35%, recorded in Irvine Business Complex.

Office Spaces for Rent in California

2020 Office Construction in Tustin, CA

  • Tustin, CA Total SF completed in 2020
  • Tustin, CA Total SF under construction in 2021 181,620

During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Tustin office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 181,620 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Tustin
Office building Address SF Completed
15332 Newport Avenue 15332 Newport Avenue, 92780 181,620 2021
FLIGHT at Tustin Legacy - Buildings A-1 & A- 2 1770 Barranca Pkwy, 92606 178,936 2019
FLIGHT at Tustin Legacy - Building C 1700 Barranca Pkwy, 92606 145,417 2019
FLIGHT at Tustin Legacy - Building B 1735 Flight Way, 92606 93,256 2019
Hoag Health Center - Tustin Legacy 15000 Kensington Park Drive, 92782 60,000 2018
14191 Myford Road 14191 Myford Road, 92780 110,122 2014
Kaiser Permanente Tustin Ranch Medical Offices 2521 Michelle Drive, 92780 88,656 2011
Pacific Office Plaza 1422 Edinger Avenue, 92780 66,578 2006
Create Tustin - 14101 Myford Road 14101 Myford Road, 92780 66,818 2005
2741 Walnut Avenue 2741 Walnut Avenue, 92780 33,263 2001

Worth noting among recent office completions on the Tustin market is 15332 Newport Avenue, which is currently the largest new office development in the city, at 181,620 square feet.

Data provided by Commercial Edge

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 Tustin 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.