Tri-Valley Office Market Report
|Dir FS Ask Rate||$2.32|
|Availability Rate (%)|
|Net Absorption (SF)||517,953|
Historically, the Tri-Valley office and R&D market has been driven by large tenant activity. This was indeed the case in the third quarter of 2022. Two headlining transactions drove the market, with Chevron and Sunset Development announcing the consummation of a ±400,000-square-foot lease at BR2600, and Unchained Labs finalizing a headquarters relocation of ±123,750 square feet. These two deals drove a positive absorption of 517,953 square feet for the quarter, dropping the availability rate by 177 basis points to 16.1%.
Download Tri-Valley Office Market Report 3Q22