East Bay - Oakland industrial real estate market reports
Q2 2022: The state of East Bay industrial market has remained steady with rising rents but slight increases in vacancy and a return to negative, albeit marginal, absorption.
New Construction
With nearly a half million square feet recently delivered to the market in Q2 2022 and another 2.1 msf currently under construction, confidence in the future remains high for the East Bay industrial market.
Net Absorption
For the first time since Q2 2021, net absorption dipped into negative territory. This is likely more of a hiccup as new construction is being delivered to the market rather than a shift in trends.
Average Asking Rent
Rents have been on a steady incline pre-pandemic, rising nearly 22% from Q2 2019 to Q2 2022.
Availabilities
The amount of total available space continues a downward trend for the 5th straight quarter, a sign of healthy activity for East Bay industrial space.
Vacancy
Vacancy in Q2 2022 increased slightly from Q1 2022, primarily for direct space.
Investment Sales
While sales volume remained flat the average price per square foot reached all-time highs in Q2 2022 at over $347.
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