North I-680 Office Market
The vacancy rate saw a slight decrease of 20 bps to 24.2% in the second quarter of 2024. Net absorption in the second quarter was positive, with 6,298 square feet of absorption. Leasing pace/tenants in market is decent with good migration activity to North I-680 from other markets offset somewhat by continued downsize of some existing market tenants via renewals or putting space on market for sublease. Tenants continue to prioritize leasing of space in good condition in buildings with best access to on/off-site amenities and higher levels of occupancy/activity.