Fremont, CA - Office Market Overview
The Fremont Metropolitan Area includes the Ardenwood, Baylands, and Fremont East Industrial commercial real estate submarkets. While the City of Fremont is home to over 233,000 people, it is part of the greater San Francisco - Oakland - Hayward metropolitan region with almost 4.7 million residents. Demand for office space in Fremont comes for a dynamic mix of business including corporate headquarters and cutting-edge high technology companies.
As of mid-2017, the Fremont office market encompasses nearly 4.7 million square feet of existing office space in properties larger than 50,000 square feet. Commercial real estate in Fremont, CA, is attractive to businesses in nearby Silicon Valley seeking a more cost-effective alternative to the higher prices found in the San Francisco Bay Area.
Fremont, CA - Office Inventory Description
Fremont is the fourth-most populated city in the San Francisco East Bay area and is also the closest city in the East Bay to Silicon Valley. As a result, demand for office space in the city is consistently strong. There are over 4.6 million square feet of Class B office space in Fremont alone, looking only at office buildings that are 50,000 square feet in size or larger. Class C office space is difficult to find in larger properties, adding less than 55,000 square feet to the Fremont office inventory.
The Fremont Downtown office submarket sees some of the best demand for space in the city. Located west of Central Park, on both sides of the Paseo Padre Parkway, this part of Fremont is home to investment-grade office buildings such as the Fremont Office Center at 39300 Civic Center Drive, the office buildings at 3077 - 3149 Stevenson Blvd, 3300 Kearney Street & 39650 Liberty Street, and Centre Point Plaza on California Street.
Fremont, CA Commercial Inventory Breakdown
Total: 6,683,200 SF
By square footage range:
- 50k to 100k SF: 2,647,375 SF / 39.61% of total office
- 100k to 500k SF: 2,635,825 SF / 39.44% of total office
- > 1M SF: 1,400,000 SF / 20.95% of total office
- Class A: 170,606 SF / 2.55% of total office
- Class B: 5,058,102 SF / 75.68% of total office
- Class C: 54,492 SF / 0.82% of total office
Fremont, CA - Green Office Space
The amount of green office space in Fremont is growing year by year. Looking only at larger office buildings of 50,000 square feet or more of space, there are currently nearly 271,000 square feet of green office space in Fremont. One great example of a LEED-certified office building in Fremont is 215 Fourier Avenue. Located in the East Industrial submarket of Fremont, this office building was constructed in 1983 and contributes over 52,000 square feet of LEED Gold-certified office space to the Fremont commercial real estate market.
According to the 2017 National Green Building Adoption Index, California is home to six of the top 30 green office markets. This report surveyed only the largest office markets in the U.S. and measured the percentage growth of green, Energy Star, or LEED certified office buildings that are 50,000 square feet or larger. Since 2005, when the percentage of green buildings was below 5%, over the past 12 years that number has grown by about 33%, showing that the interest in green office space from tenants and portfolio office investors isn't just a passing fad.
Fremont, CA's Top Office-Using Sectors
The Fremont office market sees predictably strong demand from top office-using sectors like high technology, healthcare & biotechnology, government, and larger corporate office users.
- High Technology – Tesla, Lam Research, and Western Digital are three of the largest creators of white-collar office employment in Fremont.
- Healthcare & Biotechnology – Firms such as Boston Scientific/Target Therapeutics, Washington Hospital and Kaiser Permanente help drive the demand for commercial real estate in Fremont.
- Government – The City of Fremont and the Fremont Unified School District, along with a variety of smaller businesses they attract, are among this top office-using sector of Fremont.
- Corporate Offices – Companies such as Antec, Corsair Memory, Ikanos Communications, Fremont Bank, Oplink Communications, and S3 Graphics are headquartered in the city and are large users of white collar office space in Fremont, Calif.
- Total Population230,964
- Male Population(49.3 %) 113,862
- Female Population(50.7 %) 117,102
- Median Age37.70
- Average Household Income$143,043
- Median Household Income$122,191
- Median Income Under 25$59,896
- Median Income 25-44$135,207
- Median Income 45-64$129,026
- Median Income Over 65$59,597
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