Oxnard, CA - Office Market Overview
The Oxnard real estate market includes the Bartolo Square, Five Points Northeast, and La Colonia - Wilson commercial real estate submarkets. With a metro population of over 850,000, the office market in Oxnard is driven by a synergistic blend of businesses, including the agriculture, defense, and tourism industries.
As of mid-2017, the Oxnard office market encompasses over 1.2 million square feet of existing office space in properties larger than 50,000 square feet. Located just 60 miles west of Downtown Los Angeles, the commercial real estate market in Oxnard, CA, sees strong demand due to the city's location as a major transportation hub in Ventura County and Southern California.
Oxnard, CA - Office Inventory Description
As an important agricultural center, and a city with a diverse economic base made up in part from the defense, international trade, and manufacturing sectors, the demand for office space in Oxnard is predictably strong. Class A or A+ office space in Oxnard brings nearly 400,000 square feet to the market, while Class B office product adds an additional 825,000 square feet of inventory to the Oxnard office market.
The East Village office submarket of Oxnard is home to several investment-grade office buildings. Located south of Route 191 between North Del Norte Boulevard and North Ross Avenue, this area is home to portfolio office buildings such as Solar Plaza, the Sunbelt Professional Center, and the Solar Business Center at 1901 Solar Drive.
Oxnard, CA Commercial Inventory Breakdown
Total: 2,446,480 SF
By square footage range:
- 50k to 100k SF: 257,712 SF / 10.53% of total office
- 100k to 500k SF: 1,480,768 SF / 60.53% of total office
- 500k to 1M SF: 708,000 SF / 28.94% of total office
- Class A: 1,208,909 SF / 49.41% of total office
- Class B: 928,142 SF / 37.94% of total office
Oxnard, CA - Green Office Space
Over the past 12 years, the percentage of green, LEED-certified, and EPA Energy Star-rated office space has increased by more than seven-fold across the top 30 office markets in the U.S. In 2017, the National Green Building Adoption Index surveyed these top office markets in the country and discovered that since 2005, when the percentage of green office space was less than 5%, through mid-2017 the availability of energy-efficient green office space has increased to an average of 38% across these top office markets.
One example of a LEED-certified office building in Ventura County, where Oxnard is located, is the Westlake Landmark - Building 1. Built in 2006, the office building is located in the neighboring Westlake Village commercial real estate market and brings over 64,000 square feet of LEED Silver-certified office space to the Oxnard area.
Oxnard, CA's Top Office-Using Sectors
The Oxnard commercial real estate and office markets are home to a diverse mix of businesses and industries. Some of the top office-using sectors in Oxnard include the manufacturing & industrial, healthcare, government & defense, and large corporate office users in the region.
- Manufacturing & Industrial – Accurate Engineering, Spatz Laboratories, Gills Onions, Advanced Metalforming Technologies, and Zymed are a few of the companies that create demand for commercial real estate in the City of Oxnard.
- Healthcare – St. John's Regional Medical Center is one of the largest employers in the city and helps to drive demand for white-collar office space in Oxnard, California.
- Government & Defense – The City of Oxnard and the Naval Base Ventura County, along with the various business groups they attract, are two of the organizations in this top office-using sector of Oxnard that help create demand for office space in the Oxnard area.
- Corporate Office – Haas Automation, Seminis, Raypak, Boss Audio, Sysco, and Procter & Gamble are some of the larger creators of white-collar office employment in Oxnard, California.
- Total Population206,732
- Male Population(50.3 %) 103,912
- Female Population(49.7 %) 102,820
- Median Age31.70
- Average Household Income$83,206
- Median Household Income$64,837
- Median Income Under 25$47,500
- Median Income 25-44$61,007
- Median Income 45-64$77,185
- Median Income Over 65$51,813
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