Fairfield, CA - Office Market Overview
Fairfield neighbors the Vallejo, Vacaville, and Walnut Creek commercial real estate markets. With a population of about 115,000 people, Fairfield is part of the large, densely-populated San Francisco North Bay area. The demand for office space in Fairfield is maintained by a diversified mix of industries, including government and light manufacturing.
As of mid-2017 the Fairfield, Calif., office market encompasses over 1.2 million square feet of existing office space in properties larger than 50,000 square feet. There is strong demand for commercial real estate in Fairfield, CA, due to its midpoint location between the larger business centers of San Francisco and Sacramento. Fairfield is also just 40 miles from the City of Oakland and about 19 miles from the world-famous Napa Valley wineries and vineyards.
Fairfield, CA - Office Inventory Description
Home to the headquarters of the renowned Jelly Belly jelly bean, and also the home of Travis Air Force Base, the office inventory in Fairfield CA attracts a wide variety of business. There is over 1 million square feet of Class B office space in Fairfield, while Class C product adds over 200,000 square feet more to Fairfield's office inventory.
Some of the larger, investment-grade office buildings in Fairfield include the Green Valley Technical Plaza - 5251 Business Center Drive, the Busch Campus Park on Chadbourne Road, the 1300 Executive Center office property, and Fairfield Corporate Commons - 320, 324 Campus Lane & 420 Executive Court North.
Fairfield, CA Commercial Inventory Breakdown
Total: 2,393,464 SF
By square footage range:
- 50k to 100k SF: 816,683 SF / 34.12% of total office
- 100k to 500k SF: 736,781 SF / 30.78% of total office
- 500k to 1M SF: 840,000 SF / 35.1% of total office
- Class A: 218,000 SF / 9.11% of total office
- Class B: 1,335,464 SF / 55.8% of total office
Fairfield, CA - Green Office Space
LEED-certified, EPA Energy Star-rated, and green office space in Fairfield is something that is continuously growing. One example of a mixed-use, LEED-certified building is the Gateway80 Business Park. The project is being built to LEED-certified standards and is designed to accommodate larger distribution, manufacturing, and industrial users. This two-building project will bring 861,000 square feet of LEED-certified space to the Fairfield commercial real estate market.
While the demand for green office space in Fairfield is strong, this is also true throughout the State of California and the entire U.S. The 2017 National Green Building Adoption Index surveyed the top 30 office markets in the country to measure the growth of green, energy-efficient office space. The report notes that, from 2005 to 2017, the overall percentage of green office space across these top markets has increased about seven times, representing a 38% share of the total office inventory. The report looked only at office buildings larger than 50,000 square feet.
Fairfield, CA's Top Office-Using Sectors
The Fairfield commercial real estate market sees robust demand for space from top office-using sectors like healthcare, manufacturing, government & defense, along with larger corporate office users.
- Healthcare – Demand for white-collar office space in Fairfield comes from institutions such as the NorthBay Medical Center and the Sutter Medical Foundation.
- Manufacturing – Pride Industries and Jelly Belly help to drive the demand for commercial real estate in Fairfield.
- Government & Defense – Large employers such as Travis Air Force Base, the County of Solano, and the City of Fairfield are three of the larger organizations in this top office-using sector of Fairfield.
- Corporate Offices – Anheuser-Busch, Clorox, and Partnership HealthPlan of California are some of the larger corporations that create white-collar office employment in Fairfield.
- Total Population112,238
- Male Population(49.2 %) 55,223
- Female Population(50.8 %) 57,015
- Median Age38.00
- Average Household Income$117,727
- Median Household Income$83,822
- Median Income Under 25$42,314
- Median Income 25-44$92,494
- Median Income 45-64$92,150
- Median Income Over 65$60,470