2023 Office Space Rent & Sales
- $48.02 2023 Avg. Asking Rent
- 0.23% Y-o-Y Avg. Asking Rent Change
- 14.21% 2023 Office Vacancy Rate
South San Francisco office price per square foot in 2023 was $48.02 on average. This marked a +0.23% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 14.21% 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
- South San Francisco Class A & A+ Office Space$51.49
- South San Francisco Class B Office Space$44.65
- California Class A & A+ Office Space$56.30
- California Class B Office Space$37.45
- California Class C Office Space$44.91
South San Francisco, CA Office Asking Rents by Class
Office Spaces for Rent in California
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2023 Office Construction in South San Francisco, CA
- South San Francisco, CA Total SF completed in 2023 533,092
- South San Francisco, CA Total SF under construction in 2024 1,473,010
During 2023, 533,092 square feet of new office space were delivered across the market. At the close of 2023, the South San Francisco office inventory included 3 buildings equal to or larger than 25,000 square feet, which comprised 533,092 square feet of office space. Looking forward, development activity throughout 2024 is estimated to add 1,473,010 square feet of office space to the market, before year-end.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Southline - Building 1 | 30 Tanforan Avenue, 94080 | 375,000 | 2024 |
| Vantage - Building B | 494 Forbes Blvd, 94080 | 188,000 | 2024 |
| Gateway of Pacific V - North Building | 475 Eccles Avenue, 94080 | 160,000 | 2024 |
| Gateway of Pacific V - South Building | 475 Eccles Avenue, 94080 | 160,000 | 2024 |
| The Nexus on Grand | 233 East Grand Avenue, 94080 | 148,500 | 2023 |
| 201 Haskins Way | 201 Haskins Way, 94080 | 311,368 | 2021 |
| The Cove at Oyster Point VII | 131 Oyster Point Blvd, 94080 | 175,830 | 2019 |
| Genesis - North Tower | 2 Tower Place, 94080 | 381,523 | 2018 |
| The Cove at Oyster Point III | 151 Oyster Point Blvd, 94080 | 153,047 | 2016 |
| The Cove at Oyster Point IV | 171 Oyster Point Blvd, 94080 | 140,053 | 2016 |
Worth noting among recent office completions on the South San Francisco market is Southline - Building 1, which is currently the largest new office development in the city, at 375,000 square feet.
See reports for other markets
- Los Angeles Office Rent Price
- San Francisco Office Rent Price
- San Diego Office Rent Price
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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 South San Francisco 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.