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East Bay Has Both Abundant and Scarce Space

Brokers presented a case study of a current or recently completed real estate project and discussed market conditions within their respective product type specialties at a recent town hall event at Cal.

By Lisa Brown | Updated on December 08, 2017

SIOR/Cal Town Hall Zhou, Kapp, Weil, Andrew Tham, Maguire, Murray, Missirlian (L-R) attend a town hall meeting at Haas.

BERKELEY, CA—Oakland has recorded soaring office rents but its leasing activity is limited by the lack of available office space. Moreover, there will be approximately 6.5 million square feet of new East Bay warehouse product shell completed by first quarter 2018. In addition to that, there is another 5 million feet starting construction or working through planning approvals. This type of development would be about 15% of new warehouse inventory to the East Bay warehouse market, an amount virtually unheard of, said brokers at a recent town hall meeting held at the Haas School of Business at the University of California, Berkeley.

As part of an educational partnership, the Northern California Chapter of the Society of Industrial & Office Realtors/SIOR is teaming up with the Fisher Center for Real Estate and Urban Economics at the Haas School. The SIOR chapter, along with matching funds from Washington, DC-based SIOR Foundation, is sponsoring Cal’s Undergraduate Real Estate Club in the coming year.

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