East Bay/Oakland office market report

Q4 2024

The Oakland/East Bay office market showed mixed signals to close 2024. Downtown Oakland’s vacancy rate fell for the first time in seven quarters, though leasing activity declined for the fourth straight quarter. Banking and finance sectors led occupancy recovery, while healthcare lagged, driven by Kaiser Permanente’s Downtown Oakland retreat. Despite challenges, slight improvements hint at potential stabilization in 2025.
35.4%

Vacancy

Downtown Oakland’s vacancy rate declined for the first time in seven quarters, dropping 1.2% from 36.6% in Q3.

-18.2%

Asking Rents 

Class B office has seen the largest decline in asking rents among all asset classes, while Class A rents have fallen by a more modest 3.7%.

-59K

Net Absorption

The East Bay office market closed the year with its sixth consecutive quarter of negative net absorption, though Q4 marked the mildest decline of 2024.

Your source for the latest East Bay/Oakland office market reports

Get in-depth office market reports and insights from commercial real estate experts in the Greater East Bay/Oakland area. Avison Young advisors look at East Bay/Oakland commercial real estate activities and the latest East Bay/Oakland statistics to provide you expert market research on East Bay/Oakland's office properties.

Explore different topics like the latest office market pricing trends and analysis of East Bay/Oakland's current office real estate market conditions. Gain a better understanding of East Bay/Oaklands office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in East Bay/Oakland's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in East Bay/Oakland.

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