2024 Office Space Rent & Sales
- $85.50 2024 Avg. Asking Rent
- 36.63% 2024 Office Vacancy Rate
San Carlos office price per square foot in 2024 was $85.50 on average. The local office market recorded an average vacancy rate of 36.63% 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
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
San Carlos, CA Office Asking Rents by Class
Office Spaces for Rent in California
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2024 Office Construction in San Carlos, CA
- San Carlos, CA Total SF completed in 2024 320,731
- San Carlos, CA Total SF under construction in 2025 336,175
During 2024, 320,731 square feet of new office space were delivered across the market. At the close of 2024, the San Carlos office inventory included 2 buildings equal to or larger than 25,000 square feet, which comprised 320,731 square feet of office space. Looking forward, development activity throughout 2025 is estimated to add 336,175 square feet of office space to the market, before year-end.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Portal 405 | 405 Industrial Road, 94070 | 240,000 | 2025 |
| Brittan West | 1091 Industrial Road, 94070 | 173,731 | 2024 |
| The Alexandria District for Science & Technology - Building 2 | 835 Industrial Road, 94070 | 276,945 | 2021 |
| San Carlos Business Park | 985 Industrial Rd, 94070 | 27,303 | 2006 |
| Skyway Landing I | 959 Skyway Road, 94070 | 119,200 | 2000 |
| Circle Star Plaza Two | 2 Circle Star Way, 94070 | 103,948 | 2000 |
| 75-125 Shoreway Road | 75 Shoreway Road, 94070 | 83,045 | 1987 |
| San Carlos Technology Park - 1501-1581 Industrial Road | 1501 Industrial Road, 94070 | 103,000 | 1980 |
| 1390 El Camino Real | 1390 El Camino Real, 94070 | 12,440 | 1980 |
| 360 Industrial Road | 360 Industrial Road, 94070 | 44,542 | 1975 |
Worth noting among recent office completions on the San Carlos market is Portal 405, which is currently the largest new office development in the city, at 240,000 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 San Carlos 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.