Tustin Office Market Trends

Office Rental Market

  • $31.11 2019 Avg. Asking Rent
  • 24.43 % 2019 Avg. Vacancy Rate
  • 417,609 2019 Office Completions (Sqft)
  • 180,000 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Tustin was $31.11 per square foot, and the office vacancy rate across the market averaged 24.43 %. During 2019, developers added 417,609 square feet of new office space to the Tustin market inventory. Office developments estimated for delivery during 2020 total 180,000 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Tustin Class A Office Buildings$36.60
  • Tustin Class B Office Buildings$26.78
  • CA Class A Office Buildings$51.59
  • CA Class B Office Buildings$34.34
  • CA Class C Office Buildings$22.62

Tustin, CA Office Asking Rents by Class

2019 OFFICE VACANCY RATES

Submarket Asking Rents Vacancy Rates
Irvine Business Complex $31.40 30.60 %
Tustin $28.89 6.59 %
Data provided by Commercial Edge
  • The lowest office vacancy rate in 2019 in Tustin was 6.59 % in the Tustin submarket, where asking rents averaged $28.89.
  • The highest office vacancy rate in 2019 in Tustin was 30.60 % in the Irvine Business Complex submarket, where asking rents averaged $31.40.

OFFICE CONSTRUCTION IN Tustin, CA

  • Tustin, CA Total Sqft completed in 2019 417,609
  • Tustin, CA Total Sqft under construction in 2020 180,000
10 Largest Office Buildings in Tustin
Building name Address Total Sqft Year built
1452 & 1472 Edinger Avenue 1452 Edinger Avenue, 92780 224,520 1987
SchoolsFirst Credit Union Corporate Headquarters 15332 Newport Avenue, 92780 180,000 2021
FLIGHT at Tustin Legacy - Buildings A-1 & A- 2 1770 Barranca Pkwy, 92606 178,936 2019
Flight @ Tustin Legacy Bldg C 1700 Flight Way, 92606 145,000 2019
Redhill Business Park 15401-15481 Redhill Avenue, 92780 119,640 1978
14191 Myford Road 14191 Myford Road, 92780 110,122 2014
33.7 North 15771 Red Hill Avenue, 92780 96,000 2016
FLIGHT at Tustin Legacy - Building B 1735 Flight Way, 92606 93,256 2019
Tustin Executive Center 17542 17th Street, 92680 90,932 1984
Centurion Plaza - 15621 & 15661 Red Hill Avenue 15661 Red Hill Avenue, 92780 88,867 1985
Largest Office Properties Recently Completed in Tustin
Office building Address Sqft Completed
SchoolsFirst Credit Union Corporate Headquarters 15332 Newport Avenue, 92780 180,000 2021
FLIGHT at Tustin Legacy - Buildings A-1 & A- 2 1770 Barranca Pkwy, 92606 178,936 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
33.7 North 15771 Red Hill Avenue, 92780 96,000 2016
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
Create Tustin - 2642 Michelle Drive 2642 Michelle Drive, 92780 50,832 2005
Data provided by Commercial Edge

Office Spaces for Rent in California

TUSTIN OFFICE SALES TRENDS

  • $348.612019 Avg. Price per Sqft
  • 43.24 %Y-o-Y Avg. PpSF Change
  • $103M2019 Office Sales Volume
  • 52019 Number of Transactions

In 2019, office sales in Tustin averaged $348.61 per square foot. This marked a 43.24 % increase in office price per square foot, compared to the previous year. A total of 5 office sales closed on the Tustin office market in 2019, amounting to a total sales volume of $103M.

Average Office Sale Price per Sqft

Tustin, CA Sales Trends

  • Tustin Price per Sqft$348.61
  • California Price per Sqft$437.86

Office Sales - Trend and Volume

  • Tustin, CA Total Office Sales Volume in 2019 $103M
  • Tustin, CA Total Number of Office Sales Closed in 2019 5

Largest Tustin Office Sales in 2019

Property name Address Date Price
Create Tustin - 14101 Myford Road 14101 Myford Road 10/23/2019 $36,254,540
33.7 North 15771 Red Hill Avenue 5/15/2019 $23,500,000
Create Tustin - 2642 Michelle Drive 2642 Michelle Drive 10/1/2019 $16,800,000
2742 Dow Avenue 2742 Dow Avenue 7/24/2019 $15,900,500
15501 Red Hill Avenue 15501 Red Hill Avenue 4/4/2019 $15,550,000
Data provided by Commercial Edge

See trends for nearby markets

The Tustin office market contains an inventory of 3,140,794 square feet of office space, in 72 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 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.