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Greater Oakland/East Bay Market Reports

Greater Oakland Office Market Report

Average FS Asking Rent (Price/SF)   
Availability Rate (%)        11.21%
Net Absorption (SF)    -488,275  

Net absorption in the third quarter finished at negative 488,275 square feet. The key contributor to yet another quarter in the red was the 645,000 square feet of office space construction that is newly available. With new properties adding nearly 1.0 million square feet to the market, year-to-date net absorption has plummeted.  Surprisingly, the third quarter was the hottest for leasing since the beginning of 2016, as the second half of 2018 began with 644,540 square feet of gross absorption. It's anticipated that the Oakland market can expect gross absorption to keep climbing given that demand from San Francisco tenants seeking affordable rents or large blocks of space will lead to transactions for newly deliverable space in Oakland between 2018 and 2020.

East Bay Industrial Market Report 

Average NNN Asking Rent (Price/SF)         $1.12
Availability Rate (%)          4.7%
Net Absorption (SF)    364,287

A constrained supply, booming economy, increased demand from logistics and e-commerce, and new tenants in the market have driven asking rents up to $1.12/SF. New construction is quickly leasing, as more than 1.0 million square feet of Class A industrial space is set to deliver later this year. After two quarters of negative net absorption, net absorption was positive for the third quarter of 2018, posting the best quarter since the fourth quarter of 2017. In just two years, average asking rents have risen about 14.0%, from $0.98/SF to $1.12/SF.

Greater Oakland Office Market Report
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East Bay Industrial Market Report
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