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Greater Oakland/East Bay Market Reports

Greater Oakland Office Market Report

Average FS Asking Rent (Price/SF)   
Availability Rate (%)   10.2%
Net Absorption (SF) 23,455

The Greater Oakland office market has remained active and in high demand as space comes at a higher cost. Rents have jumped consistently quarter over quarter, and the start of the second half of 2019 has been no different. Class A and Class B Downtown Oakland asking rents have surged significantly over the years, and these new rental rates might give local tenants sticker shock. In the past five years, Downtown Oakland asking rents increased from $2.79/SF to $5.24/SF for Class A and from $2.22/SF to $4.68/SF for Class B. This accounts for an 88% increase for Class A and a 111% increase for Class B over a five-year period. Downtown Oakland is not the only submarket to experience this kind of growth, however, as the same sort of rental increases were recorded in surrounding areas such as the Oakland Airport, Jack London Square and Emeryville.

East Bay Industrial Market Report 

Average NNN Asking Rent (Price/SF)         $1.08
Availability Rate (%)          5.8%
Net Absorption (SF)   -187,025

The third quarter of 2019 found the East Bay industrial market healthier than last quarter. Gross absorption continued to increase, ending the third quarter at just under 2.5 million square feet. Net absorption, on the other hand, remains negative for the fourth straight quarter. This is probably due to an influx in new developments in the area, which is creating a surplus of space. Although the figure is still negative, net absorption increased by more than 600,000 square feet from the prior quarter, indicating that the demand for new space continues to increase, and these negative figures should not be cause for concern.

Greater Oakland Office Market Report
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East Bay Industrial Market Report
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