Traditional tenants maintain interest in Oakland as tech fades - United States
Traditional tenants maintain interest in Oakland as tech fades
Of the tenants currently searching for office space in Oakland, only about 14% are tech companies. Finance, legal, non-profit, and other traditional office users make up the bulk of the tenants in the market.
While other tech-dependent markets like San Francisco and Silicon Valley are significantly affected by the tech downturn, Oakland's traditional tenant makeup positions it to recover sooner and more vigorously.
Furthermore, since these industries require employees to be physically present at the workplace, Oakland is less affected by the slow return-to-office trend that is hindering the tech industry. As a result, the outlook for Oakland's office market recovery is particularly bullish.