The company's just-released third quarter report for East Bay industrial properties put third quarter rent increases at a strong 5%. The report cites rents that range from $0.18 to $1.50 per sf. Hot spots include Berkeley, Emeryville and Fremont, where some rents are coming in on the high side of $1.50. Richmond and Oakland are coming in with rents closer to the low end of the scale.
East Bay warehouse space has shown similar strength over the last quarter. Average asking rents across the area jumped from 48 cents per sf to 54 cents per sf. Like manufacturing space, the warehouse market was a strong performer in Berkeley, Emeryville and Fremont, where asking rents were 99 cents per sf, $1.03 per sf and 67 cents per sf, respectively.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
