Tri-Valley Office Market Report
|Dir FS Ask Rate||$2.72|
|Availability Rate (%)|
|Net Absorption (SF)||80,829|
Continuing the momentum set in the third quarter of 2021, the Tri-Valley office and R&D market ended the year on a positive note, helping offset some of the damage done in the first two quarters of the year. Optimism ran higher in the fourth quarter of 2021 with a few large requirements, but most of those requirements have rolled over into 2022. All that said, COVID continued to stifle most major re-occupancy objectives set by companies over the year and office space remains largely underutilized, while R&D and industrial space is in high demand. This is represented in this quarter’s significant transaction list as all the major leases occurred in office-flex buildings.
Download Tri-Valley Office Market Report 4Q21