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.

1.6 MSF

Annual Net Absorption

Demand for industrial space remained strong throughout 2022 with four straight quarters of positive absorption.
4.6%

Vacancy Rate

Industrial vacancy nears pre-pandemic lows as demand remains strong.

10.3 MSF

Total Available Square Feet

Despite new construction deliveries over the past several years, availability remains low.
 

1.68 PSF

Average NNN Asking Rate

Rising construction costs, elevated demand, and limited supply have pushed industrial space asking rents to all-time highs.

4 MSF

Under Construction

Industrial inventory continues to grow with 4 million square feet of construction currently underway.

$439 M

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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