The East Bay experienced a solid performance year, with over 2.4 million s.f. in leasing activity and 631,000 s.f. of positive net absorption. Rental rates have remained on the rise, averaging $4.06/s.f. full service (a 5.7% increase from 2018), with Oakland boasting a high $4.53/s.f. rate. Sale volume was the highest amount in the last 10 years, ending 2019 with $1.43 billion. However, development activity has been greatly reduced, with two buildings currently under construction.
Oakland/East Bay Office Market Report
4th Quarter 2019