EAST BAY OFFICE MARKET SUMMARY Q3 2017

Despite vacancy rates above market equilibrium, asking rents remained high in the 3rd quarter. Tenants seeking relief from San Francisco and Oakland markets remain attracted to BART-centric markets despite high rent levels.

East Bay Office Market Summary Q3 2017

  • The East Bay Office market vacancy rate increased slightly in Q3 2017 to 10.94%. Danville/Alamo (4.74%) and Lamorinda (8.66%) submarkets continue to be the tightest markets. Walnut Creek Shadelands (19.14%) and Concord (15.25%) are the submarkets with the highest vacancy.
  • Direct asking rental rates remained elevated for Class A ($34.62/rsf) and Class B ($29.94/rsf). Class A asking rents are highest in the BART-centric submarkets of Lamorinda ($48.06/rsf) and Walnut Creek Downtown/BART ($45.98/rsf).
  • Tenants seeking value are finding quality space and lower asking rents in San Ramon for Class A ($30.00) and Class B ($25.31).
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