Big Tech Moves Into Oakland while Construction Pipeline Swells

Cushman & Wakefield Releases Q2 Report for East Bay Oakland Office Market OAKLAND, Calif., July 23, 2019 – Cushman & Wakefield’s research department has released their second quarter 2019 market report for the East Bay Oakland office market. Below are the key findings from this report plus local expert commentary: VACANCY AND OCCUPANCY GROWTH BOTH ON UPSWING Vacancy in the East Bay Oakland office market was 10.5% at mid-year 2019, up modestly from a year ago, largely due to the new delivery of the 244,000-square-foot (sf) 2150 Webster building, that is unleased. Vacancy in the Oakland CBD was 10.3%, its first time above 10% in nearly five years. Keith Reichert, lead research analyst for Cushman & Wakefield’s Oakland office, said, “Despite a modest rise in vacancy, occupancy has increased by a significant 443,600 sf over the past year market wide, with the second quarter of 2019 achieving more than 200,000 [...]

2018 a Record-Setting Year to Remember for San Francisco Office Market

Year Ends with More Large Tech Deals, Positive Trends, but Supply Could Impact Growth Ahead SAN FRANCISCO, Calif. – January 10, 2019 – 2018 was a year for the San Francisco history books, according to Cushman & Wakefield’s year-end office market report. The firm’s quarterly publication revealed San Francisco produced a number of records this past year in the dominant office sector, including record high rents and new construction deliveries. In addition, vacancy reached a three-year low, while tenant requirements (demand) held strong. Also favorable to the market’s economic stamina, the most recent San Francisco metropolitan division (San Francisco and San Mateo counties) unemployment rate was a minimal 2.2%, dropping even further below the year ago figure of 2.6%. Year-over-year (YOY) total private sector jobs increased by 2.0% to 1,023,600 while office using positions increased 2.5% to 397,400. Overall San Francisco office market vacancy closed 2018 at just 6.4%, with [...]