Santa Ana, CA - Office Market Overview
The Santa Ana real estate market includes the Delhi, Madison Park - Cornerstone Village, and Park Santiago - Fairhaven office space submarkets. With over 3.1 million residents, Santa Ana is also part of the Greater Los Angeles metropolitan region that is home to more than 13 million people. As the second-most populous city in Orange County, the city is a magnet for a variety of both traditional and newer, cutting-edge businesses.
As of mid-2017, the Santa Ana office market is home to nearly 9.6 million square feet of office space in buildings larger than 50,000 square feet. The high-technology and aerospace industries contribute heavily to the local economy and provide an ever-growing demand for Class A office space and commercial real estate in Santa Ana, CA.
Santa Ana, CA - Office Inventory Description
Santa Ana is one of the most densely-populated cities in the U.S., fourth only to New York City, Boston, and San Francisco. With a gross annual metropolitan product of $218 billion there is consistent need for white-collar office space. Of the 9.6 million square feet of office inventory in Santa Ana, Class A product accounts for a little less than 3.5 million square feet of the total supply, while Class B office space in Santa Ana adds just over 5.6 million square feet of additional office space to the market.
The Downtown Santa Ana office submarket sees some of the strongest demand for white-collar office employment in the area. Bordered by West Civic Center Drive, Main Street, West 1st Street, and North Flower Street, this market is home to world-class office buildings such as the Civic Center Plaza Towers, the WH Spurgeon Building, and the Transit Tower at 405 West 5th Street.
Santa Ana, CA Commercial Inventory Breakdown
Total: 12,079,879 SF
By square footage range:
- 50k to 100k SF: 2,542,276 SF / 21.05% of total office
- 100k to 500k SF: 7,781,278 SF / 64.42% of total office
- 500k to 1M SF: 612,325 SF / 5.07% of total office
- > 1M SF: 1,144,000 SF / 9.47% of total office
- Class A: 3,457,415 SF / 28.62% of total office
- Class B: 6,360,616 SF / 52.65% of total office
- Class C: 505,523 SF / 4.18% of total office
Santa Ana, CA - Green Office Space
As both tenants and office building investors in California recognize the numerous benefits of energy-efficient, green office space, the availability has increased year by year. Of the 70 office buildings in Santa Ana that are larger than 50,000 square feet, 9% are considered to be green office buildings, contributing over 1.2 million square feet of green office space to the Santa Ana office market.
One example of a green office building in Santa Ana is the Tustin Centre II. Located in the Saddleback View - Mabury Park commercial real estate submarket of Santa Ana, this 82,000-square-foot Class A office building was built in 2010 and holds a LEED Gold certification.
The 2017 National Green Building Adoption Index surveyed the U.S. as a whole, and found that in the top 30 major office markets in the U.S. the percentage of green office buildings, LEED-certified and EPA Energy Star-rated property has increased by 33% over the past 12 years.
Santa Ana, CA's Top Office-Using Sectors
The Santa Ana office market sees some of the most robust demand for Class A office space from top office-using industry sectors such as high technology, healthcare, government & education, and larger corporate office users.
- High Technology – Ingram Micro, Freedom Communications, and MSC Software Corporation are some of the biggest employers and users of white-collar office space in Santa Ana.
- Healthcare – Institutions such as Tenet Healthcare and the California Department of Mental Health also contribute to the demand for white-collar employment in the Santa Ana metro area.
- Government & Education – Orange County, Corinthian Colleges, and the Rancho Santiago Community College District are a few of the organizations of this top office-using sector in Santa Ana.
- Corporate Office – Companies headquartered in Santa Ana, California include Behr Paint, First American Corporation, SchoolsFirst Federal Credit Union, and TTM Technologies.
Santa Ana Demographics
- Total Population334,493
- Male Population(50.5 %) 168,985
- Female Population(49.5 %) 165,508
- Median Age31.00
- Average Household Income$73,156
- Median Household Income$57,151
- Median Income Under 25$43,464
- Median Income 25-44$54,275
- Median Income 45-64$66,320
- Median Income Over 65$44,893
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