Greater Oakland Office Market Report
| Average FS Asking Rent (Price/SF) | $4.63 |
| Availability Rate (%) | 17.3% |
| Net Absorption (SF) | -118,474 |
The Greater Oakland office market is showing good promise in the second quarter of 2021. Tours and deal flow activity have increased significantly in the East Bay. There is a significant amount of San Francisco tenants looking at migrating to the Oakland office market or having a “spoke” in the Downtown Oakland core. Employees want to work closer to home, and employers are seeking talent in the East Bay. Approximately 20.0% of employees are back in the office at this point, still strong evidence of companies downsizing when their leases roll.
Download Greater Oakland Office Market Report 2Q21East Bay Industrial Market Report
| Average NNN Asking Rent (Price/SF) | $1.18 |
| Availability Rate (%) | 6.0% |
| Net Absorption (SF) | 540,968 |
The second quarter of 2021 was the strongest for East Bay industrial real estate since before the beginning of the pandemic. Net absorption was finally positive, after five straight quarters in the red. This reversal was largely due to a strong warehouse leasing quarter with nine leases over 100,000 square-feet and over 3 million square feet of gross absorption in total.