Oakland - East Bay Industrial Real Estate Market Reports | Avison Young US - Oakland
East Bay - Oakland industrial real estate market reports
The industrial real estate market faces a slow increase in availability due to a convergence of rising supply from new construction and diminishing demand. Despite prior success, industrial and flex absorption records significant negative absorption in 2023, reflecting a reversal in market dynamics, with industrial space, which had shown resilience, now experiencing a faster rise in vacancy in the backdrop of a sluggish global economic activity marked by a 10% decline in shipping volume in 2023 compared to 2022.
Availability is slowly increasing as increasing supply from new construction meets declining demand.
Industrial and flex absorption sees significant negative absorption in 2023, a reversal from the success it saw in prior years.
Full container volume out of the Port of Oakland is still down significantly in 2023 compared to 2022.
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