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Greater Oakland/East Bay Market Reports

Greater Oakland Office Market Report

Average FS Asking Rent (Price/SF)   
Availability Rate (%)          9.6%
Net Absorption (SF)   450,086  

The fourth quarter of 2018 was one of the strongest spans in the history of the Greater Oakland market, as leasing activity totaled 861,686 square feet. This included nine leases greater than 20,000 square feet, totaling 590,000 square feet. Net absorption had its first large positive quarter since the beginning of 2016, at 455,000 square feet. The availability rate fell nearly two percentage points from the previous quarter, from 11.21% to 9.56%. Overall asking rates remained the same but increased in certain pockets, particularly Downtown Oakland, where they climbed to $4.67/SF, while Class A rates reached $5.25/SF.

East Bay Industrial Market Report 

Average NNN Asking Rent (Price/SF)         $1.09
Availability Rate (%)          4.9%
Net Absorption (SF)   -713,005

With the availability and delivery of brand new industrial space, vacancy rose 55% from a year ago (although from historic lows), climbing to 4.91% from a 10-year low of 3.16% in the fourth quarter of 2017. Despite the increase in vacancy, average asking rents remain steady and are fluctuating between $1.07/SF and $1.12/SF triple net. Breaking it down into individual product types, however, asking rents have continued to increase. R&D/Flex rents rose 13% from a year ago, to $1.57/SF from $1.39/SF, while industrial/light manufacturing rents rose 12.6% to $1.07/SF from $0.95/SF compared to the same period in 2017.

Greater Oakland Office Market Report
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East Bay Industrial Market Report
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