Rancho Cucamonga, CA - Office Market Overview
The Rancho Cucamonga real estate market includes the Alta Loma, Empire Lakes Golf Course, and Terra Vista commercial real estate submarkets. While Rancho Cucamonga itself is home to only about 176,000 people, the city is also part of the Greater Los Angeles metro area, home to over 13 million people. Located in San Bernardino County, Rancho Cucamonga is only 37 miles from Downtown Los Angeles.
As of mid-2017, the Rancho Cucamonga office market encompasses just over 2.5 million square feet of existing office space in properties larger than 50,000 square feet. The commercial real estate market in Rancho Cucamonga, CA, is largely driven by the city's easy access to the major transportation hubs of Southern California.
Rancho Cucamonga, CA - Office Inventory Description
The city of Rancho Cucamonga is also home to the 13th-wealthiest neighborhood in all of Southern California, right behind the L.A. neighborhood of Bel Air, according to Insider Magazine. The city has attracted many of the country's largest corporations and contributes significantly to the $682 billion gross annual metropolitan product of the L.A. region.
Because of this, Class A and A+ office space in Rancho Cucamonga accounts for about 60% of the total office inventory in the city, while Class B office product brings a little less than 745,000 square feet of additional office space to the market. One of the areas in Rancho Cucamonga that sees consistently strong demand for office space is the Southwest Rancho Cucamonga office submarket. Located west of Haven Avenue between East 4th Street and Historic Route 66, this area is home to investment-grade office buildings such as the Havengate Center, the Vintner's Grove - Building 3, and the Haven Park - 9680 Haven Avenue office building.
Rancho Cucamonga, CA - Green Office Space
California is serious about making green office space a priority. Recently, a state law was passed requiring owners of private commercial buildings to publish annually the energy consumption of their properties, and benchmarking the progress in making the buildings more energy-efficient. Green office space is a priority in Rancho Cucamonga, as well. The Frontier Project is a 14,000-square-foot demonstration building that will tout the benefits of environmentally-friendly construction. This LEED-certified building in Rancho Cucamonga will provide business owners, builders and architects with information on the latest green building methods and technologies.
The most recent National Green Building Adoption Index surveyed the top 30 largest office markets in the country and discovered that, over the past 12 years, the overall percentage of LEED-certified and Energy Star-rated office buildings has increased by about 33%. This is a green building trend that both Rancho Cucamonga and the rest of California are doing their best to support. In fact, six of the top 30 green office markets analyzed in this report are in California.
Rancho Cucamonga, CA's Top Office-Using Sectors
Due to its location just north of the Ontario International Airport, the Rancho Cucamonga commercial real estate market and office market receive significant demand from the distribution, light manufacturing, and large corporate office-using sectors in Rancho Cucamonga.
- Distribution – Food company Nong Shim, Frito-Lay, and Coca Cola are just three of the companies in this top office-using sector.
- Light Manufacturing – Demand for commercial real estate in the Rancho Cucamonga region also comes from companies such as Tamco Steel, CMC Steel Fabricators, Schlosser Forge Company, and CW Construction.
- Corporate Office – Amphastar Pharmaceuticals, Southern California Edison, Mercury Casualty, Bradshaw International, and CO-OP Financial Services are some of the larger users of white-collar office space in Rancho Cucamonga.
Rancho Cucamonga Demographics
- Total Population174,573
- Male Population(49.9 %) 87,057
- Female Population(50.1 %) 87,516
- Median Age35.50
- Average Household Income$100,141
- Median Household Income$83,736
- Median Income Under 25$50,652
- Median Income 25-44$88,431
- Median Income 45-64$93,692
- Median Income Over 65$52,461
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