Huntington Beach, CA - Office Market Overview
The Huntington Beach area includes the Oak View - Newland, Bolsa Chica - Heil, and Garfield commercial real estate submarkets. With a population of over 200,000 people, Huntington Beach is also part of the greater Los Angeles metro area, which is home to over 13 million residents.
As of mid-2017, the Huntington Beach office market encompasses nearly 1.9 million square feet of existing office space in properties larger than 50,000 square feet. The commercial real estate market in Huntington Beach, CA, is chiefly driven by the numerous industrial businesses that call the city home.
Huntington Beach, CA - Office Inventory Description
The leading industries of the economy in Huntington Beach are tourism and technology. Huntington Beach is the most populous beach city in Orange County, with 9.5 miles of sand and sun. But recreation isn't the only thing at which the city excels. Business and industry are also attracted to Huntington Beach, driving the demand for local office space. Nearly 60% of the Huntington Beach office inventory is Class A or A+, while Class B office product adds over 800,000 square feet more to the market.
The Goldenwest - Washington office submarket sees some of the strongest demand for office space in Huntington Beach. Larger office buildings in the area are primarily located along I-405, and include investment-grade property such as the Huntington Executive Park, the Bella Terra Medical office building, and One Pacific Plaza - 7755 Center Avenue.
Huntington Beach, CA Commercial Inventory Breakdown
Total: 2,000,907 SF
By square footage range:
- 50k to 100k SF: 823,187 SF / 41.14% of total office
- 100k to 500k SF: 1,177,720 SF / 58.86% of total office
- Class A: 1,056,131 SF / 52.78% of total office
- Class B: 944,776 SF / 47.22% of total office
Huntington Beach, CA - Green Office Space
Both tenants and investors in California increasingly look for the availability of green-certified office buildings, and those that are either EPA Energy Star-rated or USGBC LEED-certified office buildings. This isn't just a passing fad. In fact, California is home to six of the top green office markets in the country.
A great example of an energy efficient, LEED-certified office building in Huntington Beach is the Hoag Health Center Huntington Beach. This Class A office building is located in the Adams commercial real estate submarket of Huntington Beach and contributes over 99,000 square feet of LEED Silver-certified green office space to the Huntington Beach real estate market.
With green office buildings like this one, it's clear that Huntington Beach is serious about meeting both tenant and investor demand for green office space. The most recent National Green Building Adoption Index, published in 2017, surveyed 30 top U.S. office markets. The report discovered that, since 2005, the percentage of energy-efficient office buildings across these top markets has increased by about 33% to mid-year 2017.
Huntington Beach, CA's Top Office-Using Sectors
The Huntington Beach office market is driven in large part by top office-using sectors like the aerospace, manufacturing & industrial, tourism, and larger corporate office users.
- Aerospace – Companies such as Boeing and C&D Aerospace help create demand for white-collar office employment in Huntington Beach.
- Manufacturing & Industrial – Quicksilver, Cambro Manufacturing, and Ensign United States Drilling are some of the firms in this top business sector of Huntington Beach.
- Tourism – Trademarked 'Surf City, USA', businesses of all sizes are an integrated part of the tourism industry in Huntington Beach, helping to drive the demand for office space and commercial real estate in the city.
- Corporate Office – Demand for white-collar office space also comes from large companies such as Walters Wholesale Electronics and Rainbow Disposal.
Huntington Beach Demographics
- Total Population200,415
- Male Population(50.0 %) 100,128
- Female Population(50.0 %) 100,287
- Median Age41.90
- Average Household Income$115,884
- Median Household Income$88,079
- Median Income Under 25$47,212
- Median Income 25-44$92,265
- Median Income 45-64$104,031
- Median Income Over 65$64,019
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