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North I-680 Market Reports

North I-680 Office Market Report

As a continuation of trends seen in the first half of the year, it was a relatively flat quarter. The overall market remains healthy as several large deals were completed. However, space absorption gains in the quarter were neutralized by companies' giving back space and corporate "right-sizing". The positive net absorption from deals completed were offset by companies taking a cost-conscious approach to their space needs by reducing their footprint in the market.

The overall North I-680 market experienced 3,779 square feet of negative absorption, bringing the year-to-date absorption to negative 70,324 square feet. The overall availability rate for the end of the third quarter was 14.68%. Except for Concord, all submarkets experienced some amount of negative absorption. Class A buildings accounted for the majority of negative absorption. Four downsize/renewals in the Walnut Creek Driver Market accounted for 57,987 square feet of the negative net absorption.

Direct FS Asking Rate (Price/SF)    $2.94
Total Availability Rate (%)      14.7
Net Absorption (SF)  -3,779

North I-680 Industrial Market Report

The Contra Costa industrial market finished the second quarter of 2019 with an overall availability rate of 3.96%, a significant drop from 5.80% in the previous quarter and the county's lowest availability rate in more than 10 years. Positive net absorption for the quarter totaled 305,398 square feet.
Most of the quarterly net absorption occurred when Bombardier leased 215,706 square feet for its new rail car assembly site at the Contra Costa Industrial Park, located at 1501 Loveridge Road in Pittsburg. Bombardier will produce BART's "Fleet of the Future" cars at this site. Also in Pittsburg, Purple Line USA leased 29,960 square feet of light industrial and yard space at 1830-1860 Loveridge Road. In Concord, Swinerton leased 23,783 square feet of light industrial space at 1915 Mark Court. Also in Concord, Freschi Air Service Experts leased 10,800 square feet with 5,500 square feet of fenced yard space at 2440 Sprig Court. In Martinez, EUV Technology expanded at Muirtec Center and leased 16,717 square feet at 2830 Howe Road.

 Direct Avg NNN Asking Rate (Price/SF)
  $0 .72
 Total Availability Rate (%)
 Net Absorption (SF)

North I-680 Office Market Report
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North I-680 Industrial Market Report
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