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Greater Oakland/East Bay Market Reports

Greater Oakland Office Market Report

Average FS Asking Rent (Price/SF)   
Availability Rate (%)      9.8%
Net Absorption (SF) -58,311

The Greater Oakland office market had a slow start in 2019. Leasing experienced its slowest quarter since the Great Recession, as the first quarter of 2019 produced only 374,437 square feet of gross absorption. Although leasing activity has been slowing, it has not affected rent increases. The Downtown Oakland market has remained on the rise, and full service asking rents for Class A are now $4.77/SF. The average asking rent would be even higher, but the amount of sublease space has increased gradually every quarter since the start of 2016, offering competitively priced alternatives for tenants needing plug-and-play space.

East Bay Industrial Market Report 

Average NNN Asking Rent (Price/SF)            $1.07
Availability Rate (%)              5.4%
Net Absorption (SF)   -1,009,916

The East Bay industrial market remained tight to start 2019, as total availability increased slightly during the first quarter, from 4.9% to 5.4%. Average asking rates ended the first quarter at $1.07/SF, while gross absorption totaled just over 3.4 million square feet, making this one of the largest quarters for leasing in the East Bay in recent years. New industrial product remains rampant, as more than 500,000 square feet of new space became available this quarter, while nearly 1.0 million square feet is still under construction.

Greater Oakland Office Market Report
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East Bay Industrial Market Report
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