The Tri-Valley office market experienced its first evidence of rental rate erosion in over eight years. Harsch Investment Properties discounted selective suites at their Hacienda West property, where full-service asking rates were lowered from $2.85/s.f. to $2.45/s.f. and at their Hacienda Lakes property, where some suites are now being offered at $2.35/s.f. full-service, down from $2.75/s.f. Market touring activity fell this quarter, particularly between the 1,000 to 8,000 s.f. range, where discounted asking rates are likely to follow due to this slowdown. Bernal Corporate Park in Pleasanton continues to capture deals at Class-A asking rates of $2.75/s.f. full-service.
I-680 Corridor Office Market Report
3rd Quarter 2019