2023 Office Space Rent & Sales
- $31.54 2023 Avg. Asking Rent
- -0.21% Y-o-Y Avg. Asking Rent Change
- 26.44% 2023 Office Vacancy Rate
- $15M2023 Total Office Sales
- $132.83Avg. Sale Price/SF
Novato office price per square foot in 2023 was $31.54 on average. This marked a -0.21% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 26.44% 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.
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
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 |
---|---|---|---|
Hanna Ranch Building A | 5400 Hanna Ranch Rd. (A), 94945 | 21,908 | 2021 |
7533 Redwood Boulevard | 7533 Redwood Blvd, 94945 | 1,318 | 2021 |
Hamilton Landing - 7 Hamilton Landing | 7 Hamilton Landing, 94949 | 60,686 | 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 Hanna Ranch Building A, which is currently the largest new office development in the city, at 21,908 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
- Oakland Office Rent Price
- Palo Alto Office Rent Price
- Santa Monica Office Rent Price
- Pasadena Office Rent Price
- Redwood City Office Rent Price
- Walnut Creek Office Rent Price
- Santa Clara Office Rent Price
- Long Beach Office Rent Price
- 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 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.