2023 Office Space Rent & Sales
- $26.53 2023 Avg. Asking Rent
- 9.87% 2023 Office Vacancy Rate
Bakersfield office price per square foot in 2023 was $26.53 on average. The local office market recorded an average vacancy rate of 9.87% across all asset classes combined.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Bakersfield Class A & A+ Office Space$31.17
- Bakersfield Class B Office Space$26.37
- Bakersfield Class C Office Space$22.54
- California Class A & A+ Office Space$56.30
- California Class B Office Space$37.45
- California Class C Office Space$44.91
Bakersfield, CA Office Asking Rents by Class
Average office rent in Bakersfield rested at $26.53 per square foot in 2023. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Bakersfield averaged $31.17 per square foot. Across all submarkets, class B office space recorded an average asking rent of $26.37 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $22.54 per square foot, on average. Comparably, statewide California average office rents by class in 2023 were: $56.30 per square foot for class A office space; $37.45 per square foot for class B office space; $44.91 per square foot for class C office space.
Coworking Spaces in California
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2023 Office Construction in Bakersfield, CA
Office building | Address | SF | Completed |
---|---|---|---|
Two Fully Improved Surgery Centers | 4500 Trade Centre Dr, 93311 | 13,000 | 2016 |
Rio Bravo Medical Campus - Phase I | 4500 Morning Drive, 93306 | 65,000 | 2015 |
University Place | 8500 Stockdale Hwy, 93311 | 52,000 | 2007 |
7600 Meany Avenue | 7600 Meany Ave, 93308 | 8,070 | 2005 |
Two University Centre | 9201 Camino Media, 93311 | 53,186 | 2003 |
One University Centre | 9100 Ming Avenue, 93311 | 67,064 | 2000 |
Four Story, Class "A" | 900 Old River Rd, 93311 | 572,414 | 1995 |
Parkway Center | 4200 Truxtun Avenue, 93309 | 61,333 | 1992 |
3401-3701 Mall View Road | 3501 Mall View Road, 93306 | 57,243 | 1990 |
5101 Office Park Drive | 5101 Office Park Drive, 93309 | 39,726 | 1988 |
Worth noting among recent office completions on the Bakersfield market is Two Fully Improved Surgery Centers, which is currently the largest new office development in the city, at 13,000 square feet.
See reports for other markets
- Los Angeles Office Rent Price
- San Francisco Office Rent Price
- San Diego Office Rent Price
- Sacramento Office Rent Price
- San Jose Office Rent Price
- Irvine Office Rent Price
- Fresno Office Rent Price
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- Beverly Hills Office Rent Price
This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Bakersfield commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.