Search
 

East Bay Owner's Market Nowhere to be Seen

OAKLAND, CA-"We expect that tenants will enjoy a negotiating advantage through much of next year," says Keith Mackenzie, senior vice president and managing director for the Oakland office of Grubb & Ellis, in a new third quarter report.

By Michelle Savage | Updated on November 15, 2001

OAKLAND, CA-According to Grubb & Ellis’ third quarter performance numbers, the East Bay office market continues to favor space users over space owners.

“Tenants will have the strongest bargaining leverage since the early 1990s,” says Keith Mackenzie, Senior Vice President and Managing Director, for the Oakland office of Grubb & Ellis. “We expect that tenants will enjoy a negotiating advantage through much of next year due to a weak leasing environment coupled with continuing deliveries of buildings still in the construction pipeline.”

Grubb & Ellis, a commercial and corporate real estate services provider, reveals that vacancy in the East Bay marketplace is averaging 8%, although there is significant deviation when comparing the I-680 corridor to the I-80/880 corridor.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.