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Greater Oakland/East Bay Market Reports

Greater Oakland Office Market Report

Average FS Asking Rent (Price/SF)   
Availability Rate (%)    10.3%
Net Absorption (SF) -41,348

The Greater Oakland office market experienced two significant events in the second quarter: Kaiser Permanente announced that it will construct and move into a centralized headquarters, and Credit Karma signed a lease in Downtown Oakland. Asking rates have been on the rise for years, but momentum has been ramping up in 2019, particularly in certain pockets of the East Bay. Downtown Oakland has seen the largest increases, as Class A space in that submarket now averages $5.15/SF, an 11.7% increase from $4.61/SF one year ago.

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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