Greater Oakland Office Market Report
Net absorption in the first quarter of 2025 totaled negative 45,738 square feet. This is the 12th quarter in a row where the market has experienced negative absorption. There were no new office construction projects in the Greater Oakland market in the first quarter of 2025. Life science makes up most of the active construction. Vacancy increased to 22.7%.
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East Bay Industrial Market Report
The industrial market experienced a continued decrease in demand resulting in negative net absorption of 579,483 in the first quarter of 2025. Vacancy rates remained at 7.4%, the same as last quarter. The majority of the vacancy was in warehouse/distribution buildings. Vacancy rates for all three product types remained relatively stable throughout the first quarter. Overall availability rates increased to 9.8%, of which 2.2% was sublease space. Published asking rates haven’t declined significantly although noticeable softer deal rates occurred on transactions – especially on less functional buildings.
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