East Bay - Oakland industrial real estate market reports
Q4 2022: Despite the economic slowdown due to rising interest rates and supply chain issues, the East Bay industrial market shows strength with low vacancies despite record levels of construction and deliveries over the last several years. Industrial product has proven to be a haven for investors with 2022 seeing record sales volume and valuations.
Annual Net Absorption
Industrial vacancy nears pre-pandemic lows as demand remains strong.
Total Available Square Feet
Despite new construction deliveries over the past several years, availability remains low.
Average NNN Asking Rate
Rising construction costs, elevated demand, and limited supply have pushed industrial space asking rents to all-time highs.
Industrial inventory continues to grow with 4 million square feet of construction currently underway.
Total Sales Volume
Sales activity finished the year off strong with $439m of sales volume in 2022; a record year for the market, totaling almost $2 billion in sales.
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