Walnut Creek Office Rent Price & Sales Report

2020 Office Space Rent & Sales

  • $40.47 2020 Avg. Asking Rent
  • 19.50% 2020 Office Vacancy Rate
  • $51.1M2020 Total Office Sales
  • $191.63Avg. Sale Price/SF

Walnut Creek office price per square foot in 2020 was $40.47 on average. The local office market recorded an average vacancy rate of 19.50% across all asset classes combined. The 3 transactions that closed here throughout 2020 amounted to a total sale volume of $51.1M. Walnut Creek office space commanded an average sale price per square foot of $191.63.

Average Rent by Office Class

2020 Average Office Rent per Square Foot

  • Walnut Creek Class A Office Space$45.18
  • Walnut Creek Class B Office Space$41.89
  • Walnut Creek Class C Office Space$25.77
  • California Class A Office Space$55.92
  • California Class B Office Space$35.12
  • California Class C Office Space$23.50

Walnut Creek, CA Office Asking Rents by Class

Average office rent in Walnut Creek rested at $40.47 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 Walnut Creek averaged $45.18 per square foot. Across all submarkets, class B office space recorded an average asking rent of $41.89 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $25.77 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 Walnut Creek

Submarket Asking Rents Vacancy Rates
Walnut Creek - Central $45.43 17.44%
Walnut Creek - North $35.10 21.99%
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 Walnut Creek market was 19.50% in 2020. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Walnut Creek was 17.44% in the Walnut Creek - Central submarket, while the highest office vacancy in the market was 21.99%, recorded in Walnut Creek - North.

Office Spaces for Rent in California

Walnut Creek Office Sale Price per SF

  • $191.632020 Avg. Price per SF
  • $51.1M2020 Office Sales Volume
  • 32020 Number of Transactions

Walnut Creek, CA Sale Price per SF Trend

  • Walnut Creek Avg. Sale Price per SF in 2020$191.63
  • California Avg. Sale Price per SF in 2020$432.41
The sale price for office space in Walnut Creek averaged $191.63 per square foot in 2020, across all market subdivisions and asset classes. Conversely, the statewide California average office sale price during the same time period was $432.41 per square foot.

2020 Office Sales Volume

  • Walnut Creek, CA Total Office Sales Volume in 2020 $51.1M
  • Walnut Creek, CA Total Number of Office Sales Closed in 2020 3
A total of 3 deals closed on the Walnut Creek office market in 2020, adding up to a yearly sales volume of $51.1M. Notably, the largest transaction on the market saw Shadelands Business Park - Redwood Building change hands for $23,195,000 on 11/13/2020.

Largest Walnut Creek Office Sales in 2020

Property name Address Date Price
Shadelands Business Park - Redwood Building 2621 Shadelands Drive 11/13/2020 $23,195,000
2700 Ygnacio 2700 Ygnacio Valley Road 7/24/2020 $15,700,000
Shadelands Corporate Plaza - 575 Lennon Lane 575 Lennon Lane 3/17/2020 $12,250,000
Data provided by Commercial Edge

2020 Office Construction in Walnut Creek, CA

  • Walnut Creek, CA Total SF completed in 2020

During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Walnut Creek office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.

Largest Office Properties Recently Completed in Walnut Creek
Office building Address SF Completed
Station Landing 3055 Oak Road, 94597 241,798 2008
PMI Plaza 3003 Oak Road, 94597 190,706 2002
Three Ygnacio Center 2001 North Main Street, 94596 166,775 2002
Sequoia Surgical Pavilion 2405 Shadelands Drive, 94598 50,000 2000
Treat Towers - 1277 Treat Blvd 1277 Treat Blvd, 94597 191,171 1999
Treat Towers - 1255 Treat Blvd 1255 Treat Blvd, 94597 187,577 1999
2800 Mitchell Drive 2800 Mitchell Drive, 94598 85,000 1996
2999 Oak Road 2999 Oak Road, 94597 199,000 1991
3000 Oak Road 3000 Oak Road, 94597 99,062 1989
The Plaza at Walnut Creek - Building 1331 1331 North California Blvd, 94596 133,867 1988

Worth noting among recent office completions on the Walnut Creek market is Station Landing, which is currently the largest new office development in the city, at 241,798 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 Walnut Creek 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.