2022 Office Space Rent & Sales
- $31.61 2022 Avg. Asking Rent
- 1.65% Y-o-Y Avg. Asking Rent Change
- 27.65% 2022 Office Vacancy Rate
- $15M2023 Total Office Sales
- $132.83Avg. Sale Price/SF
Novato office price per square foot in 2022 was $31.61 on average. This marked a +1.65% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 27.65% across all asset classes combined. The 3 transactions that closed here throughout 2023 amounted to a total sale volume of $15M. Novato office space commanded an average sale price per square foot of $132.83.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Novato Class B Office Space$31.61
- California Class A & A+ Office Space$59.32
- California Class B Office Space$37.75
- California Class C Office Space$25.55
Novato, CA Office Asking Rents by Class
Novato Office Sale Price per SF
- $132.832023 Avg. Price per SF
- -47.69%Y-o-Y Avg. PpSF Change
- $15M2023 Office Sales Volume
- 32023 Number of Transactions
Novato, CA Sale Price per SF Trend
- Novato Avg. Sale Price per SF in 2023$132.83
- California Avg. Sale Price per SF in 2023$256.51
2023 Office Sales Volume
- Novato, CA Total Office Sales Volume in 2023 $15M
- Novato, CA Total Number of Office Sales Closed in 2023 3
Coworking Spaces in California
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Office building | Address | SF | Completed |
---|---|---|---|
7533 Redwood Boulevard | 7533 Redwood Blvd, 94945 | 1,318 | 2021 |
Hamilton Landing - 7 Hamilton Landing | 7 Hamilton Landing, 94949 | 60,686 | 2007 |
690 De Long Ave | 690 De Long Ave, 94945 | 9,920 | 2007 |
Woodside Office Center | 7250 Redwood Blvd, 94945 | 90,214 | 2002 |
Marin Business Center | 100 Wood Hollow Dr, 94945 | 130,062 | 2001 |
Hamilton Landing - 3 Hamilton Landing | 3 Hamilton Landing, 94949 | 56,321 | 2001 |
Hamilton Landing - 4 Hamilton Landing | 4 Hamilton Landing, 94949 | 57,289 | 2000 |
Hamilton Landing - 6 Hamilton Landing | 6 Hamilton Landing, 94949 | 57,289 | 2000 |
Rowland Plaza | 75 Rowland Way, 94945 | 143,444 | 1995 |
100 Rowland Wy | 100 Rowland Wy, 94945 | 52,000 | 1995 |
Worth noting among recent office completions on the Novato market is 7533 Redwood Boulevard, which is currently the largest new office development in the city, at 1,318 square feet.
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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 Novato 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.