Santa Rosa, CA - Office Market Overview
The Santa Rosa real estate market includes the Bellevue Ranch, Bennett Valley, and Copperfield commercial real estate submarkets. With a population of just over 500,000 residents, the office market in Santa Rosa is driven in large part by the healthcare and tourism industries.
As of mid-2017, the Santa Rosa office market encompasses nearly 3.4 million square feet of existing office space in properties larger than 50,000 square feet. As the fifth-most populous city in the North Bay Area, the commercial real estate market in Santa Rosa, CA, sees consistently strong demand from businesses seeking an alternative to the higher-cost areas of San Jose and San Francisco.
Santa Rosa, CA - Office Inventory Description
As the largest city in the Sonoma County Wine Country region and the North Bay Region of San Francisco, the city ranks 14th in the country for job growth, and the unemployment rate of just 3.5% is a testament to the number of people and businesses that are attracted to Santa Rosa. As a result, office space in Santa Rosa is in high demand. Class B office space in the city accounts for just over 97% of the office inventory.
The Coffey Park office submarket of Santa Rosa is home to some of the larger, investment-quality office properties in the city. Located east of State Route 101 and just north of the Charles M. Schulz Museum and Research Center, this area is home to office buildings such as the Fountaingrove Corporate Center, the Sutter Northbay Health Plaza, and the Fountaingrove Executive Center on Round Barn Circle.
Santa Rosa, CA Commercial Inventory Breakdown
Total: 4,476,044 SF
By square footage range:
- 50k to 100k SF: 2,789,725 SF / 62.33% of total office
- 100k to 500k SF: 1,028,462 SF / 22.98% of total office
- 500k to 1M SF: 657,857 SF / 14.7% of total office
- Class A: 299,300 SF / 6.69% of total office
- Class B: 3,971,517 SF / 88.73% of total office
Santa Rosa, CA - Green Office Space
Green office space in Santa Rosa is just beginning to grow, as an increasing number of tenants and portfolio office building investors seek out energy-efficient space. USGBC LEED certification takes into account several factors, including site selection, water efficiency, materials & resources, innovation, and indoor environmental quality. An example of a LEED-certified office building in Santa Rosa is the Redwood Credit Union Administrative Offices on Cleveland Boulevard. Located in the North Junior commercial real estate submarket of Santa Rosa, this property was built back in 1979 and contributes nearly 104,000 square feet of Class B LEED Silver-certified office space to the Santa Rosa green office market.
While Santa Rosa is still moving up in the green office market rankings, the State of California is already home to six of the top 30 green office markets in the U.S. The 2017 National Green Building Adoption Index surveyed the office buildings that are larger than 50,000 square feet in these top markets and discovered that over the past 12 years the overall percentage of LEED-certified and EPA Energy Star-rated office buildings has increased by about 33%.
Santa Rosa, CA's Top Office-Using Sectors
The Santa Rosa office market sees strong, predictable demand year after year from top office-using sectors like government, healthcare, education, and larger corporate office users.
- Government – Significant demand for white-collar office space in Santa Rosa comes from institutions such as the County of Sonoma and the City of Santa Rosa.
- Healthcare – Kaiser Permanente, Sutter Medical Center of Santa Rosa, and the St. Joseph Health System help to drive the commercial real estate market in Santa Rosa, CA.
- Education – Organizations in this top office-using sector of Santa Rosa include Santa Rosa Junior College and the Santa Rosa School District.
- Corporate Offices – Amy's Kitchen, Keysight/Agilent Technologies, and ATIV Software are some of the larger white-collar office employers in Santa Rosa CA.
Santa Rosa Demographics
- Total Population174,244
- Male Population(48.4 %) 84,326
- Female Population(51.6 %) 89,918
- Median Age38.10
- Average Household Income$86,806
- Median Household Income$67,144
- Median Income Under 25$36,438
- Median Income 25-44$68,137
- Median Income 45-64$79,904
- Median Income Over 65$54,750
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