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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