Leasing

Burnham Brown was able to terminate excess space that had multiple years of remaining term, achieve an attractive concession package and a tenant improvement allowance in its lease at 1901 Harrison in Uptown Oakland.

The 215,221-square-foot project is being developed by Blackstone Real Estate's US-based industrial real estate operating portfolio company, Link Logistics, and the Hampshire Real Estate Cos.

The two industries have contributed the most sublease space to the market since the start of the pandemic.

About six-weeks into the pandemic, leasing activity returned to normal levels, but the leasing process has changed.

In September, more than 30% of renters had owed back rent, with Hispanic and Black renters most impacted.

A study from workplace strategy consulting firm Vocon found that work-from-home fatigue is increasing and productivity is decreasing.

Compared to malls, open-air shopping centers are better positioned to survive the pandemic because they have fewer restrictions.

Private office owners make up a larger proportion of total ownership in California and are unique exposed to Prop 15.