2023 Office Space Rent & Sales
- $51.74 2023 Avg. Asking Rent
- -0.53% Y-o-Y Avg. Asking Rent Change
- 31.36% 2023 Office Vacancy Rate
Oakland office price per square foot in 2023 was $51.74 on average. This marked a -0.53% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 31.36% across all asset classes combined.
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
- Oakland Class A & A+ Office Space$63.59
- Oakland Class B Office Space$43.91
- Oakland Class C Office Space$23.63
- California Class A & A+ Office Space$56.30
- California Class B Office Space$37.45
- California Class C Office Space$44.91
Oakland, CA Office Asking Rents by Class
Average office rent in Oakland rested at $51.74 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 Oakland averaged $63.59 per square foot. Across all submarkets, class B office space recorded an average asking rent of $43.91 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $23.63 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 Oakland
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Oakland - Downtown | $54.76 | 32.97% |
| Oakland - East | $54.00 | 14.47% |
| Oakland - North | $41.72 | 33.61% |
| Oakland - West | $31.12 | 13.85% |
| Oakland - Airport | $30.36 | 14.73% |
Office Spaces for Rent in California
Coworking Spaces in California
- Los Angeles Coworking Space
- San Diego Coworking Space
- Las Vegas Coworking Space
- San Francisco Coworking Space
- Seattle Coworking Space
- Phoenix Coworking Space
- Irvine Coworking Space
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- Newport Beach Coworking Space
- Oakland Coworking Space
- Pasadena Coworking Space
- Tucson Coworking Space
- Berkeley Coworking Space
- Palo Alto Coworking Space
2023 Office Construction in Oakland, CA
| Office building | Address | SF | Completed |
|---|---|---|---|
| Tapscott Building | 1900 Broadway, 94612 | 34,000 | 2022 |
| Uptown Station | 1955 Broadway, 94612 | 404,922 | 2020 |
| The Key at 12th | 1100 Broadway, 94607 | 345,300 | 2020 |
| Tapscott Building | 1910 Broadway, 94612 | 43,395 | 2020 |
| 601 City Center | 601 12th Street, 94607 | 606,267 | 2019 |
| The Petra Building | 1630 San Pablo Ave, 94612 | 26,700 | 2017 |
| MacArthur Annex | 644 40th Street, 94609 | 10,000 | 2016 |
| Center 21 - 2100 Franklin Street | 2100 Franklin Street, 94612 | 216,666 | 2008 |
| 10 Clay St | 10 Clay St, 94607 | 15,000 | 2008 |
| 555 City Center | 555 12th Street, 94607 | 485,039 | 2002 |
Worth noting among recent office completions on the Oakland market is Tapscott Building, which is currently the largest new office development in the city, at 34,000 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
- 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
- Newport Beach 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 Oakland 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.