Laguna Hills Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $26.93 2023 Avg. Asking Rent
  • -0.71% Y-o-Y Avg. Asking Rent Change
  • 17.43% 2023 Office Vacancy Rate
  • $30M2023 Total Office Sales
  • $259.75Avg. Sale Price/SF

Laguna Hills office price per square foot in 2023 was $26.93 on average. This marked a -0.71% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 17.43% across all asset classes combined. The 3 transactions that closed here throughout 2023 amounted to a total sale volume of $30M. Laguna Hills office space commanded an average sale price per square foot of $259.75.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2023 Average Office Rent per Square Foot

  • California Class A & A+ Office Space$56.30
  • California Class B Office Space$37.45
  • California Class C Office Space$44.91

Laguna Hills, CA Office Asking Rents by Class

2023 Office Vacancy Rates in Laguna Hills

Submarket Asking Rents Vacancy Rates
Laguna Woods $30.48 14.55%
Laguna Hills $28.36 18.08%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Laguna Hills market was 17.43% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Laguna Hills was 14.55% in the Laguna Woods submarket, while the highest office vacancy in the market was 18.08%, recorded in Laguna Hills.

Office Spaces for Rent in California

Laguna Hills Office Sale Price per SF

  • $259.752023 Avg. Price per SF
  • 0.70%Y-o-Y Avg. PpSF Change
  • $30M2023 Office Sales Volume
  • 32023 Number of Transactions

Laguna Hills, CA Sale Price per SF Trend

  • Laguna Hills Avg. Sale Price per SF in 2023$259.75
  • California Avg. Sale Price per SF in 2023$256.51
Laguna Hills office space cost in 2023 marked a +0.70% change compared to the previous year. The sale price for office space in Laguna Hills averaged $259.75 per square foot in 2023, across all market subdivisions and asset classes. Conversely, the statewide California average office sale price during the same time period was $256.51 per square foot.

2023 Office Sales Volume

  • Laguna Hills, CA Total Office Sales Volume in 2023 $30M
  • Laguna Hills, CA Total Number of Office Sales Closed in 2023 3
A total of 3 deals closed on the Laguna Hills office market in 2023, adding up to a yearly sales volume of $30M. Notably, the largest transaction on the market saw Plaza Pointe change hands for $15,529,500 on 6/2/2023.
Data provided by Commercial Edge

Coworking Spaces in California

Largest Office Properties Recently Completed in Laguna Hills
Office building Address SF Completed
HERE - Bldg D 23382 Mill Creek Drive, 92653 53,053 1989
HERE - Bldg E 23332 Mill Creek Drive, 92653 50,592 1989
23172 Plaza Pointe Drive 23172 Plaza Pointe Drive, 92653 35,437 1989
23022 La Cadena Drive 23022 La Cadena Drive, 92653 25,243 1989
Lakeview Office Building 23412 Moulton Pkwy, 92653 14,477 1989
HERE - Bldg C 23422 Mill Creek Drive, 92653 51,391 1988
HERE - Bldgs A & B 24411 Ridge Route Drive, 92653 68,431 1987
23272 & 23282 Mill Creek Dr 23272 & 23282 Mill Creek Dr, 92653 56,096 1984
Oakbrook Plaza 24422 Avenida De La Carolta, 92653 119,926 1983
South Point II Office Condos 23232 Peralta Drive, 92653 37,500 1983

Worth noting among recent office completions on the Laguna Hills market is HERE - Bldg D, which is currently the largest new office development in the city, at 53,053 square feet.

Data provided by Commercial Edge

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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 Laguna Hills 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.