{"id":1004734747,"date":"2024-10-30T07:59:40","date_gmt":"2024-10-30T15:59:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004734747"},"modified":"2024-10-31T05:57:22","modified_gmt":"2024-10-31T13:57:22","slug":"top-california-markets-for-office-transactions","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-california-markets-for-office-transactions\/","title":{"rendered":"Top California Markets for Office Transactions"},"content":{"rendered":"\n

The U.S. office sector is yet to stabilize following the pandemic, still fighting an uphill battle. Although giant companies such as Amazon and Dell are implementing multiple return-to-office policies<\/a>, fundamentals such as the vacancy rate continue to suffer across California metros. <\/p>\n\n\n\n

However, office sales closed at a somewhat steady pace. A total of $23.8 billion in investment volume was registered nationally year-to-date through September, with assets changing hands for $171 per square foot on average, CommercialEdge data shows. This only marks a slight decrease compared to 2023\u2019s same time frame, when sales totaled $25 billion. During that interval, properties traded for $198 per square foot.<\/p>\n\n\n\n

California\u2019s office transactions volume clocked in at $4.2 billion. About 16.9 million square feet across 159 properties sold for an average of $251 per square foot. The following list shows the leading top markets for office transactions in the state in the first three quarters of the year.<\/p>\n\n\n\n