Carlsbad, CA - Office Market Overview
The Carlsbad real estate market includes the Bressi Ranch, Poinsettia, and Rancho La Costa commercial real estate submarkets. With a population of nearly 115,000 residents, Carlsbad is also part of the much larger San Diego County region, which is home to over 3.3 million people. The office market in Carlsbad sees consistent demand due to the area's affluence and mid-point location between San Diego and Los Angeles.
As of mid-2017, the Carlsbad office market encompasses over 4.4 million square feet of existing office space in properties larger than 50,000 square feet. The commercial real estate market in Carlsbad is driven by a synergistic mix of tourism, technology, and biotech.
Carlsbad, CA - Office Inventory Description
Nicknamed 'The Village by the Sea', Carlsbad is also called 'Titanium Valley' due to its fame as the golf manufacturing capital of the world. In addition to tourism and sports, cutting-edge high technology businesses also help drive demand for Class A office space in Carlsbad. Class A and A+ space accounts for nearly 57% of the office market in Carlsbad, while Class B product adds another nearly 2 million square feet to the city's office inventory.
The Carlsbad Industrial Corridor - City Centre office submarket is one of the many parts of the city that see consistent, robust demand for office space. Located around the McClellan - Palomar Airport and adjacent to Bressi Ranch, the area is home to portfolio-quality office property such as the One Carlsbad Research Center, Ventana - 2173 Salk Avenue, and the Palomar Crest Corporate Center on Loker Avenue West.
Carlsbad, CA - Green Office Space
With just over 250,000 square feet of green office space, EPA Energy Star, and LEED-certified office space in Carlsbad, this segment of the office market continues to grow. An excellent example of a LEED certified office building in Carlsbad is the Ocean Ridge office building at 5796 Armada Drive. Located in the Carlsbad Ranch commercial real estate submarket, this property was built in 2006 and brings nearly 75,000 square feet of LEED Gold-certified green office space to the Carlsbad real estate market.
Since 2005, the percentage of green office buildings in the top U.S. markets has grown nearly seven-fold. According to the 2017 National Green Building Adoption Index, over the past 12 years the percentage of green office space in the top 30 office markets has increased to 38%, from less than 5% back in 2005. California is home to six of the top 30 largest green, energy-efficient office markets in the country.
Carlsbad, CA's Top Office-Using Sectors
The Carlsbad commercial real estate and Class A office market see robust demand from many industry segments, including the top office-using sectors of information technology, tourism & golf, life sciences, and large corporate offices.
- Information Technology – ViaSat and Legend3D are two of the largest white-collar office employers in Carlsbad.
- Tourism & Golf – Legoland California, Callaway Golf Company, Cobra Golf, and Titleist are a few of the larger companies in this office-using sector in Carlsbad.
- Life Sciences – Companies such as Thermo Fisher Scientific, OptumRx, Zimmer Dental, and ISIS Pharmaceuticals create significant demand for Class A office space in Carlsbad.
- Corporate Office – White-collar office space demand in Carlsbad also comes from firms such as SGN Nutrition, Gemological Institute of America, and the Nordson Corporation.
- Total Population113,147
- Male Population(48.8 %) 55,192
- Female Population(51.2 %) 57,955
- Median Age42.60
- Average Household Income$134,602
- Median Household Income$102,722
- Median Income Under 25$49,063
- Median Income 25-44$115,561
- Median Income 45-64$118,164
- Median Income Over 65$70,487
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