Bakersfield, CA Office Overview
The city’s real estate market includes the Campus Park, CSU Bakersfield, and Kern City commercial real estate submarkets. With a population of over 885,000 residents, the economy of Bakersfield is largely driven by the agriculture and energy industries. Combined with healthcare and government use, the office market remains robust year in and year out.
As of mid-2017, the Greater Bakersfield area encompasses just over 3.8 million square feet of existing office space in properties larger than 50,000 square feet. As the ninth-most populous city in California, the city’s real estate market in Bakersfield sees demand from the large variety of business and industries that are attracted to its midpoint location between Fresno and Los Angeles.
Bakersfield, CA Office Inventory Description
As a hub for the agricultural and oil business sectors in Kern County, Bakersfield generates a gross metropolitan product of over $42 billion each year. Demand is strong, with a good mixture of Class A, B and C properties to accommodate the needs of all business budgets. Class A and A+ assets total almost 1.4 million square feet of space, with Class B buildings accounting for nearly 2.2 million square feet of the overall inventory.
Bakersfield, CA Commercial Inventory Breakdown
Total: 5,672,085 SF
By square footage range:
- 50k to 100k SF: 2,924,913 SF / 51.57% of total office
- 100k to 500k SF: 2,191,172 SF / 38.63% of total office
- 500k to 1M SF: 556,000 SF / 9.8% of total office
- Class A: 1,667,839 SF / 29.4% of total office
- Class B: 2,991,525 SF / 52.74% of total office
- Class C: 309,785 SF / 5.46% of total office
Top 10 Largest Office Buildings
|Office building||Address||Sqft||Year built|
|900 Old River Road||900 Old River Road, 93311||556,000||1995|
|CrossRoads Business Park||SWC Gosford Road & Harris Road, 93313||303,600||n/a|
|University Office Center - Phases II & III||9400 Camino Media, 93311||225,000||n/a|
|10000 Ming Avenue||10000 Ming Avenue, 93311||213,143||1985|
|California Corporate Center - 4540 & 4550 California Avenue||4550 California Avenue, 93309||198,975||1987|
|Stockdale Tower||5060 California Avenue, 93309||193,524||1983|
|100 East California Avenue||100 East California Avenue, 93305||166,565||1988|
|Cal Twin Towers||4900 California Avenue, 93309||151,124||1984|
|9525 Camino Media & 1400 Forum Way||9525 Camino Media, 93311||144,674||2002|
|GEM Discovery Plaza||1200 Discovery Drive, 93309||126,131||1986|
Most Recently-Built Office Buildings
|Office building||Address||Sqft||Year built|
|Valley Children's Healthcare - Eagle Oaks Specialty Care Center||12500 Stockdale Hwy, 93314||52,000||2018|
|6515 Woodmere Drive||6515 Woodmere Drive, 93313||28,587||2017|
|Crown Pointe Business Center - Building 1700||8307 Brimhall Road, 93312||27,000||2016|
|3655 Unicorn Road||3655 Unicorn Road, 93308||25,600||2016|
|Rio Bravo Medical Campus - Phase I||4500 Morning Drive, 93306||65,000||2015|
|11117 River Run Blvd||11117 River Run Blvd, 93311||55,586||2015|
|Seven Oaks Business Park - 11601 Bolthouse Drive||11601 Bolthouse Drive, 93311||27,200||2015|
|Seven Oaks Business Park - 11500 Bolthouse Drive||11500 Bolthouse Drive, 93311||60,000||2014|
|2620 & 2700 Chester Avenue||2620 Chester Avenue, 93301||118,934||2013|
|11200 River Run Blvd||11200 River Run Blvd, 93311||29,400||2013|
Bakersfield, CA Green Office Space
According to the most recent National Green Building Adoption Index conducted in 2017, California is home to six of the top 30 largest green office markets in the U.S. The report surveyed the growth of energy-saving workspace adoption. Back in 2005, the percentage of green, LEED, or Energy Star-certified space across these top markets averaged less than 5%. Fast forward 12 years, and today that percentage comes in at 38%, a nearly seven-fold increase in just a dozen years.
Bakersfield is home to some very impressive energy-efficient buildings. One such example is the LEED Gold certified PCL office building on 1500 S. Union Avenue. The property's LEED scorecard includes top rankings for water efficiency, indoor environmental quality, and innovation.
Bakersfield, CA's Top Office-Using Sectors
The Bakersfield commercial real estate markets are driven by some top office-using sectors in the agricultural, healthcare, and energy industries, along with the large corporate and government entities.
- Agriculture – Grimmway Farms, Bolthouse Farms, and Paramount Farms are three of the largest employers in the city.
- Healthcare – institutions such as Kaiser Permanente, San Joaquin Community Hospital, and the Kern Medical Center.
- Energy – Aera Energy and Chevron are two of the larger companies in this top business sector of the city.
- Government & Corporate Offices – large organizations such as California State University - Bakersfield, State Farm Insurance, and the County of Kern.
- Total Population375,699
- Male Population(49.2 %) 184,798
- Female Population(50.8 %) 190,901
- Median Age30.70
- Average Household Income$81,610
- Median Household Income$62,340
- Median Income Under 25$33,607
- Median Income 25-44$64,583
- Median Income 45-64$72,528
- Median Income Over 65$45,402