North I-680 Office Market
The vacancy rate increased to 25.3% in the first quarter of 2025, the market experienced an additional 99,178 square feet of negative absorption. Tenants demand has been strong with good migration activity to North I-680 from Oakland and San Francisco. Ygnacio Center (529k RSF) and 3003 Oak (206k RSF) were put on the market for sale and are both transactions expected to close in Q2 2025. Buildings with high occupancy and “new deal momentum” are attracting prospective tenants with their high energy. The push to bring employees to full buildings is preferred as employers look to stabilize or build the office culture. As companies are beginning mandated in-person work schedules, we are seeing tenants in the market further prioritize amenities and convenience.