2024 Office Space Rent & Sales
- $25.21 2024 Avg. Asking Rent
- 11.95% 2024 Office Vacancy Rate
- $36.6M2024 Total Office Sales
- $175.93Avg. Sale Price/SF
Bakersfield office price per square foot in 2024 was $25.21 on average. The local office market recorded an average vacancy rate of 11.95% across all asset classes combined. The 4 transactions that closed here throughout 2024 amounted to a total sale volume of $36.6M. Bakersfield office space commanded an average sale price per square foot of $175.93.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2024 Average Office Rent per Square Foot
- California Class A & A+ Office Space$60.31
- California Class B Office Space$38.42
- California Class C Office Space$26.20
Bakersfield, CA Office Asking Rents by Class
Bakersfield Office Sale Price per SF
- $175.932024 Avg. Price per SF
- 46.42%Y-o-Y Avg. PpSF Change
- $36.6M2024 Office Sales Volume
- 42024 Number of Transactions
Bakersfield, CA Sale Price per SF Trend
- Bakersfield Avg. Sale Price per SF in 2024$175.93
- California Avg. Sale Price per SF in 2024$249.15
2024 Office Sales Volume
- Bakersfield, CA Total Office Sales Volume in 2024 $36.6M
- Bakersfield, CA Total Number of Office Sales Closed in 2024 4
Coworking Spaces in California
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- Palo Alto Coworking Space
2024 Office Construction in Bakersfield, CA
Office building | Address | SF | Completed |
---|---|---|---|
Rio Bravo Medical Campus - Phase I | 4500 Morning Drive, 93306 | 65,000 | 2015 |
Meridian Professional Center | 4801 Calloway Drive, 93312 | 63,776 | 2008 |
19632 Industry Parkway Dr | 19632 Industry Parkway Dr, 93308 | 10,614 | 2008 |
University Place | 8500 Stockdale Hwy, 93311 | 52,000 | 2007 |
Two University Centre | 9201 Camino Media, 93311 | 53,186 | 2003 |
Four Story, Class "A" | 900 Old River Rd, 93311 | 572,414 | 1995 |
Parkway Center | 4200 Truxtun Avenue, 93309 | 61,333 | 1992 |
East Hills Pavillion | 3501 Mall View Road, 93306 | 57,243 | 1990 |
5101 Office Park Drive | 5101 Office Park Drive, 93309 | 39,726 | 1988 |
Westpark Business Center | 5251 Office Park Drive, 93309 | 38,400 | 1988 |
Worth noting among recent office completions on the Bakersfield market is Rio Bravo Medical Campus - Phase I, which is currently the largest new office development in the city, at 65,000 square feet.
See reports for other markets
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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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. 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.