North I-680 Office Market
|Average Asking Rent (Price/SF)||$2.94|
|Vacancy Rate (%)|
|Net Absorption (SF)||-77,522|
As the second quarter of 2021 comes to a close, a sense of normalcy is seemingly setting in. As of June 15, with California’s easing of most restrictions, masks are starting to disappear, vacations are being scheduled and the term “Shelter in Place” is no longer referenced on every conference call. In terms of the North I-680 office market, deals are starting to get done, employees are coming back to the office and parking garages are being used again. One year ago, the theme was short-term band-aid solutions until a return-to-work plan was set. This feels like a trend of the past, as decisions are being made (some good for the market and some not so good) and longer-term deals are getting finalized.