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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 (%)          5.3%
Net Absorption (SF)   454,584

The fourth quarter of 2019 was a strong end to an already strong year for the East Bay industrial market. For the first time in over a year, the market reported net absorption that was positive, indicating that demand remained strong. At the same time, additional new developments were delivered to the market. The new developments and rising demand contributed to an overall increase in rents, from $1.05/SF to $1.08/SF.

Greater Oakland Office Market Report
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East Bay Industrial Market Report
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