2023 Office Space Rent & Sales
- $28.83 2023 Avg. Asking Rent
- 3.74% Y-o-Y Avg. Asking Rent Change
- 24.91% 2023 Office Vacancy Rate
- $165.5M2023 Total Office Sales
- $144.21Avg. Sale Price/SF
Santa Ana office price per square foot in 2023 was $28.83 on average. This marked a +3.74% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 24.91% across all asset classes combined. The 7 transactions that closed here throughout 2023 amounted to a total sale volume of $165.5M. Santa Ana office space commanded an average sale price per square foot of $144.21.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Santa Ana Class A & A+ Office Space$27.05
- Santa Ana Class B Office Space$30.00
- Santa Ana Class C Office Space$21.92
- California Class A & A+ Office Space$56.30
- California Class B Office Space$37.45
- California Class C Office Space$44.91
Santa Ana, CA Office Asking Rents by Class
Average office rent in Santa Ana rested at $28.83 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 Santa Ana averaged $27.05 per square foot. Across all submarkets, class B office space recorded an average asking rent of $30.00 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $21.92 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.
2023 Office Vacancy Rates in Santa Ana
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
South Coast Metro | $34.68 | 23.11% |
St. Joseph Center | $32.81 | 16.31% |
Irvine Business Complex | $32.25 | 16.00% |
Tustin | $30.08 | 22.22% |
Santa Ana | $27.48 | 15.02% |
Santa Ana Office Sale Price per SF
- $144.212023 Avg. Price per SF
- -15.30%Y-o-Y Avg. PpSF Change
- $165.5M2023 Office Sales Volume
- 72023 Number of Transactions
Santa Ana, CA Sale Price per SF Trend
- Santa Ana Avg. Sale Price per SF in 2023$144.21
- California Avg. Sale Price per SF in 2023$256.51
2023 Office Sales Volume
- Santa Ana, CA Total Office Sales Volume in 2023 $165.5M
- Santa Ana, CA Total Number of Office Sales Closed in 2023 7
Coworking Spaces in California
- Los Angeles Coworking Space
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Office building | Address | SF | Completed |
---|---|---|---|
Rafferty | 401 North Main Street, 92701 | 12,700 | 2024 |
Parkcenter Plaza | 601 North Parkcenter Drive, 92705 | 29,439 | 2012 |
2010 E 1st Street | 2010 E 1st Street, 92705 | 25,187 | 2007 |
MacArthur Place | 1 MacArthur Pl., 92707 | 208,256 | 2001 |
Twin Towers at MacArthur Place - 1 MacArthur Place | 1 MacArthur Place, 92707 | 204,009 | 2001 |
3601 West Sunflower Avenue | 3601 West Sunflower Avenue, 92704 | 53,484 | 2000 |
3 MacArthur Place | 3 MacArthur Place, 92707 | 246,763 | 1999 |
Red Hill Technology Center | 2850 South Red Hill Avenue, 92705 | 94,705 | 1999 |
Lake Center - 3120 West Lake Center Drive | 3120 West Lake Center Drive, 92704 | 60,634 | 1995 |
Lake Center - 3100 West Lake Center Drive | 3100 West Lake Center Drive, 92704 | 60,462 | 1995 |
Worth noting among recent office completions on the Santa Ana market is Rafferty, which is currently the largest new office development in the city, at 12,700 square feet.
See reports for other markets
- Los Angeles Office Rent Price
- San Francisco Office Rent Price
- San Diego Office Rent Price
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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 Santa Ana 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.