Greater Oakland Office Market Report
| Average FS Asking Rent (Price/SF) | $4.66 |
| Availability Rate (%) | 17.4% |
| Net Absorption (SF) | 14,374 |
The Greater Oakland office market had its best quarter since the pandemic started. Deal velocity has been ramping up, but the variant has slowed the overall market strength. Several larger deals landed in Downtown Oakland, while leasing is still slow for the more common space size of below ten thousand square feet. There are a significant amount of San Francisco tenants looking at migrating to the Emeryville and Alameda office markets as options for new space. Many of the tech giants in the Bay Area have estimated that a soft return date would start in the new year. This is a good sign for the East Bay as it will likely follow suit in the transition back to the office.
Download Greater Oakland Office Market Report 3Q21East Bay Industrial Market Report
| Average NNN Asking Rent (Price/SF) | $1.30 |
| Availability Rate (%) | 5.7% |
| Net Absorption (SF) | 407,051 |
Activity in the East Bay industrial market was extremely active in the third quarter of 2021, picking up right where the strong second quarter left off. Overall, net absorption was positive at 407,051 square feet, vacancy rates fell by 32 basis points to 5.7% and asking rates increased substantially for the second straight quarter, finishing at $1.30/SF for all product types. Capital continues to flow into the market, as investors remain eager to acquire buildings in a market with such strong fundamentals.