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Overview of the city History
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BUSINESS OFFICE MARKET
The Victoria Gardens’s office market has experienced tremendous growth in recent years due to the region’s rising population and influx of talented and educated workers.

From 2000-2010, the Census Bureau showed the share of Rancho Cucamonga’s working residents employed as professionals, scientists and executives rose from 35.6% to 38.3%,the city’s largest occupation group. The number of inland residents with bachelor’s degrees or higher rose by 60.0% from 312,257 to 499,663. These shifts have caused some technical, professional and corporate office operations to begin migrating to the
city and the inland region.


From 2003-2011, the Victoria Gardens added an additional 11.5 million square feet of offi ce space. Rancho Cucamonga also experienced significant growth during this time period with an additional 1.9 million square feet of offi ce space built, which more than doubled the amount of space the city had in 2003

In December 2011, Rancho Cucamonga had 869,930 square feet of newer, steel framed, technologically advanced Class “A” office space. Of this amount, 205,089 square feet was available, yielding a 23.6% availability rate. Rancho Cucamonga also had over 2,668,454 square feet of high quality, steel framed, somewhat older Class “B” offi ce space. Of this amount, 568,925 square feet was available, yielding a 21.3% vacancy rate. Among older tilt-up Class “C” buildings, Rancho Cucamonga had approximately 296,950 square feet of space, of which 29,330 square feet was available, yielding a 9.9% vacancy rate

With the combination of population and economic growth, plus the migration of skilled workers, the Victoria Gardens area’s somewhat lower office space costs serve as another reason for companies to consider the region. In December 2011, Rancho Cucamonga’s Class A office space leased for an average price of $1.87 per square foot per month (nnn); 7.5% less than the least expensive space in Los Angeles County and 9.6% less than the
least expensive space in Orange County.


Near regional airports, the differences were much greater. In the Pasadena-Glendale Burbank area, 10,000 square feet of space would cost 49.7% more than in Rancho Cucamonga. Near John Wayne Airport in Orange County, space would cost 19.3% more than in Rancho Cucamonga.


 
     
 
 

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