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Greater Oakland/East Bay Market Reports

Greater Oakland Office Market Report

Average FS Asking Rent (Price/SF)   
Availability Rate (%)   11.1%
Net Absorption (SF) 50,545

The Oakland office market remained robust through the fourth quarter of 2019, as leasing activity held steady and asking rates reached record highs. Rent growth was boosted by new Class A space and creative Class B space in Downtown Oakland. As the fourth quarter drew to a close, Class A asking rates in Downtown Oakland were up 19.0% from the previous year, from $4.78/SF to $5.62/SF. This is nearly double the asking rate of $2.80/SF recorded in 2014. Overall, the East Bay market has seen a gradual increase in cost, but Oakland, at its center, is still leading the way. The current pricing, while still rising, is still ideal for San Francisco tenants looking to cut their expenses drastically by making a short trip over the Bay Bridge.

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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