Stockton, CA - Office Market Overview
The Stockton real estate market includes the Brookside Estates, Little John Creek, and Quail Lakes commercial real estate submarkets. With a metropolitan population of nearly 735,000, Stockton is located in the heart of the San Joaquin Valley, one of the richest farmland areas of California. A strong mix of government and private businesses maintains consistent demand for office space in Stockton, California.
As of mid-2017, the Stockton office market encompasses over 1.7 million square feet of existing office space in properties larger than 50,000 square feet. The commercial real estate market in Stockton, CA, is driven in large part by the city's inland port access to the San Francisco Bay Area by both highway and waterway.
Stockton, CA - Office Inventory Description
With an annual gross metropolitan product of nearly $31 billion and a vibrant business mix, the office inventory in Stockton offers space for all types of industry. There is over 500,000 square feet of Class A or A+ office inventory in Stockton. Class B office product adds over 1.2 million square feet more to the local office inventory.
The Downtown Stockton office market is one of the many areas of the city that sees consistently strong demand from both tenants and office building investors alike. Located along Highway 4, between East Charter Way and West Harding Way, this part of Stockton is home to larger, investment-grade office property, such as the In-Shape Plaza on South El Dorado Street, the 400 East Main Street office building, and the Waterfront Towers - 509 West Weber Avenue.
Stockton, CA Commercial Inventory Breakdown
Total: 2,178,674 SF
By square footage range:
- 50k to 100k SF: 1,103,924 SF / 50.67% of total office
- 100k to 500k SF: 1,074,750 SF / 49.33% of total office
- Class A: 646,398 SF / 29.67% of total office
- Class B: 1,393,873 SF / 63.98% of total office
- Class C: 138,403 SF / 6.35% of total office
Stockton, CA - Green Office Space
Over the past 12 years, the percentage of LEED-certified and EPA Energy Star-rated office buildings across the top 30 office markets in the U.S. has increased seven-fold, to an average of 38%. This is one of the key findings from the 2017 National Green Building Adoption Index, which surveyed these key markets to gauge the adoption of green office construction.
In a state as environmentally-friendly as California, it may come as no surprise to learn that it is home to six of these top green office markets. While Stockton is not large enough to qualify as a top 30 office market, there is still a fair amount of green office space in town. One example of a LEED-certified office building is the Pacific Gas & Electric regional office at 3136 Boeing Way. This 138,000-square-foot headquarters was purchased by the energy company in 2015 and was brought up to today's energy efficiency standards. This LEED Gold-certified building in Stockton received high ratings for a variety of LEED scorecard items, including water efficiency, indoor environmental quality, and innovative design.
Stockton, CA's Top Office-Using Sectors
The Stockton office market attracts a wide variety of top office-using sectors, including healthcare, government, education, and larger corporate office users.
- Health Care – Demand for white-collar office space in Stockton comes from institutions such as St. Joseph's Medical Center, Dameron Hospital, and Kaiser Permanente.
- Government – Organizations such as San Joaquin County, and the City of Stockton help drive the commercial real estate market in Stockton, CA.
- Education – The Stockton Unified School District, the North California Youth Center, and the University of Pacific are some of the largest employers in Stockton, California.
- Corporate Offices – White-collar office employment is generated by firms such as Diamond Foods, OG Packing, AT&T Communications, and PG&E.
- Total Population304,358
- Male Population(48.9 %) 148,825
- Female Population(51.1 %) 155,533
- Median Age32.30
- Average Household Income$67,393
- Median Household Income$48,396
- Median Income Under 25$25,322
- Median Income 25-44$48,019
- Median Income 45-64$55,477
- Median Income Over 65$40,796
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