Glendale, CA - Office Market Overview
The Glendale market includes the San Rafael Hills, Verdugo Viejo, and Vineyard commercial real estate submarkets. With a population of over 200,000 people, Glendale is the third largest city in Los Angeles County, and also part of the greater Los Angeles metro area, which is home to over 13 million residents. The office market in Glendale sees consistently strong demand, due to being only eight miles from Downtown Los Angeles.
As of mid-2017, the Glendale office market encompasses over 7.6 million square feet of existing office space in properties larger than 50,000 square feet. The commercial real estate market in Glendale, CA, is driven by a dynamic blend of business and industry, including technology and entertainment.
Glendale, CA - Office Inventory Description
Located in the southeastern part of the San Fernando Valley, Glendale is bordered by the cities of Pasadena and Burbank, and is a major production center for the entertainment and animation industries. These business sectors, along with numerous large corporate offices, generate robust demand for office space in Glendale. Nearly 65% of the office inventory in Glendale is Class A or A+, while Class B product adds another 2.6 million square feet of space to the office market in Glendale, California.
The Tropico office submarket in Glendale is one of the many parts of the city that sees a growing demand for office space. Located near the Glendale Memorial Hospital and Health Center, the area is home to investment-grade office buildings such as the Glendale Memorial Medical Pavilion, the Central Medical Plaza, and the Seeley Creative Campus at 1800 South Brand Boulevard.
Glendale, CA - Green Office Space
Of the 42 office buildings in Glendale that are larger than 50,000 square fee, 11 are rated as LEED-certified, Energy Star-rated, or other types of green-certified office buildings. Green office space in Glendale totals over 3.6 million square feet, with about 47% of the total office inventory in the city being green, energy-efficient space. A great example of a LEED-certified office building in Glendale is the Glendale City Center on North Brand Avenue. Located in the Glendale City Center commercial real estate submarket, this building was constructed in 1990 and brings over 408,000 square feet of LEED Gold-certified green office space to the Glendale real estate market.
As one of the most environmentally-friendly states in the U.S., California is home to six of the top 30 largest green office markets in the country. The 2017 National Green Building Adoption Index measured the growth of green building adoption in these top markets over the past 12 years, and discovered that, since 2005, the overall percentage increase in energy-efficient office space increased by about 33%.
Glendale, CA's Top Office-Using Sectors
The Glendale commercial real estate and Class A office markets see consistent demand year-over-year from top office-using sectors like the healthcare, software, and entertainment industries, along with large corporate office users.
- Healthcare – Numerous institutions, such as the Glendale Adventist Medical Center, the Glendale Memorial Medical Center, and the USC Verdugo Hills Hospital help generate demand for white collar office space in Glendale.
- Software – Nero AG and Panda Security are two of the firms in this top office-using sector in Glendale.
- Entertainment – Dreamworks Animation is one of the largest creators of white-collar office employment in Glendale.
- Corporate Office – Companies such as Glenair Inc., Nestle Company, and Public Storage help drive the demand for commercial real estate in Glendale.
- Total Population199,750
- Male Population(47.5 %) 94,851
- Female Population(52.5 %) 104,899
- Median Age41.20
- Average Household Income$86,639
- Median Household Income$58,657
- Median Income Under 25$43,226
- Median Income 25-44$72,793
- Median Income 45-64$65,522
- Median Income Over 65$33,700
- Fremont Park Demographics
- Glendale City Center Demographics
- Glenwood Demographics
- Grand Central Demographics
- Grandview Demographics
- Mariposa Demographics
- Montrose Verdugo Demographics
- Moorpark Demographics
- Pacific - Edison Demographics
- Riverside Rancho Demographics
- San Rafael Hills Demographics
- Tropico Demographics
- Verdugo Viejo Demographics
- Vineyard Demographics
- Woodbury Demographics
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