East Bay - Oakland industrial real estate market reports

Q3 2021: Recovery in the East Bay area industrial market continues amid new stages of the Covid-19 Pandemic and global supply chain uncertainty.

As jobs return to the region, demand for e-commerce sales remain at all-time highs, rents continue to rise, and sale transactions remain active, confidence in the region is returning.

6.4%

Economic conditions

The East Bay/Oakland unemployment rate continues to decline from a high of 14.6 percent in April 2020 to 6.4 percent now.

-12%

Leasing activity

While the region has seen declines in leasing activity in comparison to historical, these decreases are moderate when compared to the region’s office market.

6.5%

Vacancy rate

2021 will mark the first time since 2017 in which vacancy has decreased year over year.

2.8%

Rental rate

Base rents softened slightly in 2020 during the peaks of the Covid-19 Pandemic, but overall have trended upward since 2015, increasing by 63.3 percent over the last six years.

$4.3B

Capital markets

During Q3 2021, over $800 million of deals were completed, making the total deal volume since the beginning of 2020 $4.3 billion.

4.8M

Development activity

The Bay Area currently has 4.8M sf of industrial space proposed or under construction, which makes up 2.9% of the current total inventory in the regions.

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