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Greater Oakland/East Bay Market Reports

Greater Oakland Office Market Report

Average FS Asking Rent (Price/SF)   
Availability Rate (%)    10.3%
Net Absorption (SF) -41,348

The Greater Oakland office market experienced two significant events in the second quarter: Kaiser Permanente announced that it will construct and move into a centralized headquarters, and Credit Karma signed a lease in Downtown Oakland. Asking rates have been on the rise for years, but momentum has been ramping up in 2019, particularly in certain pockets of the East Bay. Downtown Oakland has seen the largest increases, as Class A space in that submarket now averages $5.15/SF, an 11.7% increase from $4.61/SF one year ago.

East Bay Industrial Market Report 

Average NNN Asking Rent (Price/SF)         $1.03
Availability Rate (%)           5.8%
Net Absorption (SF)   -805,935

The East Bay industrial market might not have appeared as prolific in the second quarter of 2019 as in recent quarters. In fact, the market remained active and competitive because local companies are signing renewals that are locking in large blocks of space. As gross absorption reached nearly 2.5 million square feet during the second quarter, net absorption recorded another negative quarter following the start to 2019. New Class A product remains the hot item in the East Bay and will not sit for long, whereas older space may sit on the market for up to a year, depending on how aggressively the landlord prices the space.

Greater Oakland Office Market Report
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East Bay Industrial Market Report
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