Orange Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $29.76 2023 Avg. Asking Rent
  • 0.57% Y-o-Y Avg. Asking Rent Change
  • 18.38% 2023 Office Vacancy Rate
  • $52.8M2023 Total Office Sales
  • $192.51Avg. Sale Price/SF

Orange office price per square foot in 2023 was $29.76 on average. This marked a +0.57% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 18.38% across all asset classes combined. The 3 transactions that closed here throughout 2023 amounted to a total sale volume of $52.8M. Orange office space commanded an average sale price per square foot of $192.51.

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

  • Orange Class A & A+ Office Space$32.54
  • Orange Class B Office Space$24.05
  • California Class A & A+ Office Space$56.30
  • California Class B Office Space$37.45
  • California Class C Office Space$44.91

Orange, CA Office Asking Rents by Class

2023 Office Vacancy Rates in Orange

Submarket Asking Rents Vacancy Rates
St. Joseph Center $32.81 16.31%
Platinum Triangle $31.80 19.87%
Anaheim Resort $28.84 25.08%
Orange $20.56 6.13%
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 Orange market was 18.38% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Orange was 6.13% in the Orange submarket, while the highest office vacancy in the market was 25.08%, recorded in Anaheim Resort.

Office Spaces for Rent in California

Orange Office Sale Price per SF

  • $192.512023 Avg. Price per SF
  • -19.21%Y-o-Y Avg. PpSF Change
  • $52.8M2023 Office Sales Volume
  • 32023 Number of Transactions

Orange, CA Sale Price per SF Trend

  • Orange Avg. Sale Price per SF in 2023$192.51
  • California Avg. Sale Price per SF in 2023$256.51
Orange office space cost in 2023 marked a -19.21% change compared to the previous year. The sale price for office space in Orange averaged $192.51 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

  • Orange, CA Total Office Sales Volume in 2023 $52.8M
  • Orange, CA Total Number of Office Sales Closed in 2023 3
A total of 3 deals closed on the Orange office market in 2023, adding up to a yearly sales volume of $52.8M. Notably, the largest transaction on the market saw City Centre II change hands for $23,300,000 on 9/25/2023.
Data provided by Commercial Edge

Coworking Spaces in California

Largest Office Properties Recently Completed in Orange
Office building Address SF Completed
St. Joseph Medical Tower 1010 West La Veta Avenue, 92868 120,600 2008
Arena Corporate Center 1400 S. Douglass Rd., 92806 127,750 2003
West Chapman Dental Arts Building 2401 W Chapman Ave, 92868 8,608 1990
City Tower 333 City Blvd West, 92868 435,177 1988
Orange City Square - 770 The City Drive 770 The City Drive South, 92868 184,100 1988
Orange City Square - 750 The City Drive 750 The City Drive South, 92868 94,886 1988
Orange City Square - 790 The City Drive 790 The City Drive South, 92868 94,789 1988
Orange Executive Tower 1100 Town and Country Road, 92868 388,374 1987
Orange Center Tower 500 North State College Blvd, 92868 281,699 1987
CrestView Corporate Center 3111 North Tustin Avenue, 92865 60,000 1987

Worth noting among recent office completions on the Orange market is St. Joseph Medical Tower, which is currently the largest new office development in the city, at 120,600 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 Orange 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.