Tri-Valley Office Market
The Tri Valley office market experienced negative absorption of 289,136 square feet in the second quarter of 2025, mainly due to Chevron’s new sublease totaling 389,681 RSF at 5001 Executive Parkway, San Ramon. Excluding this sublease, the Tri-Valley experienced positive absorption of 100,545 RSF during the quarter. Although there was negative absorption, there has been an increase in tenant demand as a percentage of inventory of 20 basis points compared to the first quarter of 2025. Tenants continued to be drawn to Class A space in buildings with energy, vibrancy, superior tenant amenities and ownership stability. Tri-Valley market tenant touring activity is more active with larger, national companies than regional and local based companies.
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