Vacancy Rates Slip Behind Along the North I-680 Corridor

WALNUT CREEK, CA-The pace has slowed and the North Interstate 680 corridor has not seen the increase in vacancy rates that Silicon Valley and San Francisco have seen. That, at any rate, is the conclusion of a recent market study completed by Colliers International.

Ed Del Beccaro, managing partner of the Walnut Creek office, does offer a glimmer of hope, and he tells GlobeSt.com that, with healthy levels of interest expressed in the market, the office corridor is expected to land softly during this economic slowdown.

Overall office vacancies for North I-680, an area that includes Walnut Creek, Concord, Alamo, Danville, Lafayette, Orinda and Moraga, are 5.8%, up from 4.1% at the end of 2000. Del Beccaro adds that asking rates are $2.60 per sf fully serviced as compared with $2.42 per foot fully serviced at the end of 2000.