Clinica Sierra Vista Buys 100,000-Sq-Ft Chevron Building as Vacancy Falls to 8%
Clinica Sierra Vista acquired Chevron’s 100,000-square-foot office building in Bakersfield, contributing to an estimated 8% vacancy rate that now qualifies as a landlord’s market. With no new office construction and limited available spaces, local brokers report growing demand and backfills along California Avenue’s professional service corridor.
1. Chevron Building Sale
Clinica Sierra Vista purchased Chevron’s 100,000-square-foot office building on California Avenue west of downtown Bakersfield, marking a significant transaction in the local professional services corridor. The deal underscores Chevron’s ongoing real estate adjustments following its industry shifts.
2. Tight Office Market
Bakersfield’s overall office vacancy has tightened to approximately 8%, a level brokers classify as a landlord’s market. The absence of new construction and limited sub-50,000-square-foot spaces have intensified competition among tenants seeking offices.
3. Broker Perspectives
Jeff Andrew, executive vice president at Cushman & Wakefield, notes that apparent vacancies often represent small leasable pockets within larger buildings, while ASU Commercial partner Marty Starr highlights a broad backfill across various tenant types. Both agree conditions now favor property owners.
4. Broader Market Observations
Despite national remote work trends—nearly 25% of U.S. employees working remotely part-time—Bakersfield’s traditional workforce and modest office supply have kept local demand robust. However, the former State Farm complex at 900 Old River Road remains largely inactive.