Walnut Creek Office Rent Price & Sales Report

2022 Office Space Rent & Sales

  • $39.09 2022 Avg. Asking Rent
  • 1.03% Y-o-Y Avg. Asking Rent Change
  • 18.05% 2022 Office Vacancy Rate
  • $70.9M2022 Total Office Sales
  • $128.69Avg. Sale Price/SF

Walnut Creek office price per square foot in 2022 was $39.09 on average. This marked a +1.03% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 18.05% across all asset classes combined. The 4 transactions that closed here throughout 2022 amounted to a total sale volume of $70.9M. Walnut Creek office space commanded an average sale price per square foot of $128.69.

Average Rent by Office Class

2022 Average Office Rent per Square Foot

  • Walnut Creek Class B Office Space$39.96
  • Walnut Creek Class C Office Space$25.80
  • California Class A & A+ Office Space$59.32
  • California Class B Office Space$37.75
  • California Class C Office Space$25.55

Walnut Creek, CA Office Asking Rents by Class

2022 Office Vacancy Rates in Walnut Creek

Submarket Asking Rents Vacancy Rates
Walnut Creek - Central $48.65 16.19%
Walnut Creek - North $30.55 20.84%
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 18.05% in 2022. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Walnut Creek was 16.19% in the Walnut Creek - Central submarket, while the highest office vacancy in the market was 20.84%, recorded in Walnut Creek - North.

Office Spaces for Rent in California

Walnut Creek Office Sale Price per SF

  • $128.692022 Avg. Price per SF
  • -19.56%Y-o-Y Avg. PpSF Change
  • $70.9M2022 Office Sales Volume
  • 42022 Number of Transactions

Walnut Creek, CA Sale Price per SF Trend

  • Walnut Creek Avg. Sale Price per SF in 2022$128.69
  • California Avg. Sale Price per SF in 2022$396.51
Walnut Creek office space cost in 2022 marked a -19.56% change compared to the previous year. The sale price for office space in Walnut Creek averaged $128.69 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

  • Walnut Creek, CA Total Office Sales Volume in 2022 $70.9M
  • Walnut Creek, CA Total Number of Office Sales Closed in 2022 4
A total of 4 deals closed on the Walnut Creek office market in 2022, adding up to a yearly sales volume of $70.9M. Notably, the largest transaction on the market saw 401 Lennon Lane change hands for $12,069,000 on 8/26/2022.

Largest Walnut Creek Office Sales in 2022

Property name Address Date Price
401 Lennon Lane 401 Lennon Lane 8/26/2022 $12,069,000
1855 Olympic Blvd 1855 Olympic Blvd 2/1/2022 $10,000,000
Data provided by Commercial Edge

Coworking Spaces in California

Largest Office Properties Recently Completed in Walnut Creek
Office building Address SF Completed
1180 MT Diablo Blvd 1180 MT Diablo Blvd, 94596 6,368 2009
PMI Plaza 3003 Oak Rd, 94596 206,415 2002
PMI Plaza 3003 Oak Road, 94597 190,706 2002
Three Ygnacio Center 2001 North Main Street, 94596 166,775 2002
Treat Towers II 1277 Treat Blvd, 94596 188,507 1999
Treat Towers I 1255 Treat Blvd, 94596 185,129 1999
Doctor's Park 2123 Ygnacio Valley Rd - Bldg K, 94598 6,744 1993
GOLDEN NUGGET COMPLEX 1670 Riviera Ave, 94596 11,697 1992
3000 Oak Road 3000 Oak Road, 94597 99,062 1989
DEALIUS Parkside Plaza 1556 Parkside Dr., 94596 10,938 1988

Worth noting among recent office completions on the Walnut Creek market is 1180 MT Diablo Blvd, which is currently the largest new office development in the city, at 6,368 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 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.