OAKLAND, CA—The Uptown District is an urban pocket with cafes, galleries and historic landmarks. Tenants are buzzing about Uptown, whether through moves into the Hive—or simply within Uptown near Lake Merritt. The influx in the Uptown market has driven the vacancy rate down to below 4.5% as of the first quarter.
This is among the lowest levels since CBRE began tracking the market in 1983 and the lowest CBD vacancy rate in the nation. And, the creative office building inventory in the Oakland CBD is even tighter than the overall market with an approximate 2% vacancy rate, GlobeSt.com learns.
A couple of recent Uptown tenant examples include SVA Architects' move to a larger office located at 2335 Broadway in the Hive. This development brings together specialty restaurants, co-working space and walk-up style apartments—all in one square block.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
