Walnut Creek Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $39.35 2023 Avg. Asking Rent
  • 0.67% Y-o-Y Avg. Asking Rent Change
  • 18.25% 2023 Office Vacancy Rate

Walnut Creek office price per square foot in 2023 was $39.35 on average. This marked a +0.67% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 18.25% 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

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

Walnut Creek, CA Office Asking Rents by Class

2023 Office Vacancy Rates in Walnut Creek

Submarket Asking Rents Vacancy Rates
Walnut Creek - Central $49.18 16.05%
Walnut Creek - North $30.65 21.71%
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 Walnut Creek market was 18.25% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Walnut Creek was 16.05% in the Walnut Creek - Central submarket, while the highest office vacancy in the market was 21.71%, recorded in Walnut Creek - North.

Office Spaces for Rent in California

Coworking Spaces in California

Largest Office Properties Recently Completed in Walnut Creek
Office building Address SF Completed
1180 MT Diablo Blvd 1180 MT Diablo Blvd, 94596 6,368 2009
Station Landing 3055 Oak Road, 94597 241,798 2008
Olympia Place 1697 Mt. Diablo Blvd, 94596 114,627 2003
The Corners 1501 Mt. Diablo Blvd, 94596 32,620 2003
PMI Plaza 3003 Oak Road, 94597 190,706 2002
Three Ygnacio Center 2001 North Main Street, 94596 166,775 2002
Treat Towers II 1277 Treat Blvd, 94596 188,507 1999
2999 Oak Road 2999 Oak Road, 94597 199,000 1991
1555 Riviera Avenue 1555 Riviera Avenue, 94596 77,140 1990
3000 Oak Road 3000 Oak Road, 94597 99,062 1989

Worth noting among recent office completions on the Walnut Creek market is 1180 MT Diablo Blvd, which is currently the largest new office development in the city, at 6,368 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 Walnut Creek 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.