Monterey Park, CA Office Overview
Monterey Park neighbors the Arcadia, El Monte, and Alhambra commercial real estate markets. With a population of just over 61,000 residents, the city is a part of the greater metro Los Angeles region, which is home to over 13 million people. The office market in Monterey Park consistently sees strong demand due to being located just seven miles east of Downtown Los Angeles.
As of mid-2017, the Monterey Park market encompasses over 1.7 million square feet of existing office space in properties larger than 50,000 square feet. Demand for commercial real estate is driven in large part by a synergistic mix of both government and private industry.
Monterey Park, CA Office Inventory Description
Monterey Park is part of a group of cities—including Alhambra, Arcadia, Rosemead, and San Marino—that, combined, have an Asian American population of nearly 70%. Monterey Park has also been ranked 3rd by Money magazine as one of 'America’s Best Places to Live 2017', and the demand for office space reflects this. Of the larger office buildings in the city, Class B space represents 100% of the local inventory.
A few of the larger, investment-grade properties in Monterey Park include the Los Angeles Corporate Center - Building 1000, the 1977 Saturn Street building, the Atlas Corporate Center on Atlas Avenue, and the 901 Corporate Center Drive property.
Monterey Park, CA Commercial Inventory Breakdown
Office Spaces
Total: 1,784,784 SF
By square footage range:
- 50k to 100k SF: 633,956 SF / 35.52% of total office
- 100k to 500k SF: 1,150,828 SF / 64.48% of total office
By class:
- Class B: 1,784,784 SF / 100% of total office
Top 10 Largest Office Buildings
in Monterey Park
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Volk Center | 1980 Saturn Street, 91755 | 418,229 | 1985 |
| McCaslin Park - 1977 Saturn Street | 1977 Saturn Street, 91755 | 205,628 | 1979 |
| Monterey Park | 2530 Corporate Place, 91754 | 199,056 | 1988 |
| Los Angeles Corporate Center - Building 1000 | 1000 Corporate Center Drive, 91754 | 113,513 | 1983 |
| Los Angeles Corporate Center - Building 900 | 900 Corporate Center Drive, 91754 | 113,512 | 1985 |
| 901 Corporate Center Drive | 901 Corporate Center Drive, 91754 | 100,890 | 1986 |
| 601 Potrero Grande Drive | 601 Potrero Grande Drive, 91755 | 93,861 | 1980 |
| 500 & 600 North Garfield Avenue | 500 North Garfield Avenue, 91754 | 89,575 | 1974 |
| Los Angeles Corporate Center - Building 1200 | 1200 Corporate Center Drive, 91754 | 87,031 | 1986 |
| Atlas Corporate Center | 588 Atlas Avenue, 91755 | 86,319 | 1972 |
Most Recently-Built Office Buildings
in Monterey Park
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Saturn Corporate Center | 1938 Saturn Street, 91755 | 39,543 | 2009 |
| McCaslin Park - 2100 Saturn Street | 2100 Saturn Street, 91755 | 30,366 | 2004 |
| 201 West Garvey Avenue | 201 West Garvey Avenue, 91754 | 28,499 | 1997 |
| The Crown Plaza | 1055 Corporate Center Drive, 91754 | 53,148 | 1992 |
| 1111 Corporate Center Drive | 1111 Corporate Center Drive, 91754 | 28,754 | 1992 |
| Los Angeles Corporate Center - 1588 Corporate Center Drive | 1588 Corporate Center Drive, 91754 | 67,805 | 1991 |
| 2625 Corporate Place | 2625 Corporate Place, 91754 | 43,353 | 1990 |
| 1100 Corporate Center Drive | 1100 Corporate Center Drive, 91754 | 40,704 | 1989 |
| Monterey Park Medical Plaza - 880 South Atlantic Avenue | 880 South Atlantic Blvd, 91754 | 38,424 | 1989 |
| Monterey Park | 2530 Corporate Place, 91754 | 199,056 | 1988 |
Monterey Park, CA Green Office Space
Over the years the availability of LEED-certified, EPA Energy Star-rated, and green-certified office buildings has grown tremendously, both in California and the United States as a whole. According to the 2017 National Green Building Adoption Index, over the 12-year period between 2005 and 2017 the percentage of green office space in the top 30 U.S. markets has increased by nearly seven-fold, to reach an overall percentage of 38% today.
While the city isn't large enough to be included among the top 30 office markets of the country, there are several good examples of green office space in the metro. One such example of a LEED-certified office building is the SoCalGas Monterey Park facility. The utility company renovated about 16,000 square feet of mezzanine space and replaced the existing roof system to allow the maximum amount of natural light into the work areas.
Monterey Park, CA's Top Office-Using Sectors
The Monterey Park commercial real estate sees robust demand thanks to the dynamic mix of private and public tenants. Sectors such healthcare, government, and retail industries, along with larger corporate office users, all contribute to demand.
- Healthcare – Demand for white collar workers comes from institutions such as the Garfield Medical Center, Monterey Park Hospital, and Care1st Health Plan.
- Government – Some of the largest employers include the Los Angeles County Sheriff's Department, the City of Monterey Park, and the California Highway Patrol.
- Retail – Demand for commercial real estate comes in part from companies such as Ralphs and CVS/Pharmacy.
- Corporate Office – White-collar jobs in the city are generated by firms such as AT&T, Southern California Gas Company, SynerMed, and First Data.
FREQUENTLY ASKED QUESTIONS
How much does office space cost in Monterey Park, CA?
The average office rental rate in Monterey Park, CA is $26.55 per square foot. Asking prices vary based on the property’s location, overall rating, amenities, proximity to restaurants, cafes and entertainment venues, as well as public transport, airports and highways.
What is the size of available office spaces in Monterey Park, CA?
The Monterey Park, CA office market can accommodate various businesses, sporting a range of office space availabilities. The average size of office space availabilities is 103,064 square feet. If you’re just starting out as a company or as an entrepreneur, the smallest available office space in Monterey Park, CA is 500 square feet, while the maximum rentable space on the market now is 205,628 square feet.
How do I get office space in Monterey Park, CA?
Start your search for office space in Monterey Park, CA by using our filters that allow you to find the best space for your business needs. Filter listings by location, property size, available space or lease rate. Property pages will offer details about an office building’s rating, year built, availabilities, price per square foot and more. After drawing up a shortlist, make sure you contact the listed broker(s) to schedule a viewing and begin the negotiation process for your lease contract.
How many office listings are available in Monterey Park, CA?
There are 30 office listings on the Monterey Park, CA market.
Monterey Park Demographics
Population
- Total Population60,792
- Male Population(48.2 %) 29,303
- Female Population(51.8 %) 31,489
- Median Age44.80
Income/Financial
- Average Household Income$81,205
- Median Household Income$57,265
- Median Income Under 25$31,250
- Median Income 25-44$65,946
- Median Income 45-64$65,445
- Median Income Over 65$43,614