Greater Oakland Office Market Report
Net absorption in the second quarter of 2025 totaled negative 76,889 square feet. This is the 13th quarter in a row where the market has experienced negative absorption. Vacancy rose to 23.2% in the second quarter of 2025. No new office construction projects commenced in the Greater Oakland market during this period, with active development primarily driven by life science facilities.
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East Bay Industrial Market Report
The industrial market experienced a continued decrease in demand resulting in negative net absorption of 1,389,097 in the second quarter of 2025 mainly due to 549,247 square feet of space in Fremont coming back to the market. Vacancy rates increased 70 basis points to 8.3% in the second quarter of 2025. The majority of the vacancy was in warehouse/distribution buildings. Overall availability rates increased 80 basis points to 10.6%. While published asking rates have remained relatively stable, actual deal terms have shown noticeable softening—particularly for transactions involving Class B buildings.
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