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2020 Q1 Pleasanton/Tri-Valley Office Market Research Report

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Amazon Puts Down Deep Roots in the Tri-Valley

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After committing to a long term warehouse/distribution lease in Livermore last quarter, Amazon doubled-down on the Tri-Valley by purchasing an office/flex property in Dublin this quarter to house an Amazon Web Services department. At a conservative estimate of 125 square feet per employee, the property could house upwards of more than 1,000 individuals. This will be a major boon to Dublin and the Tri-Valley as a whole, attracting workers as well as complementary businesses that desire close proximity to corporate entities such as Amazon. The overall weighted average asking rents for the Tri-Valley marched upward this quarter from $2.80 to $2.85 per square foot full service, while the total vacancy rate ticked up 0.7 percentage points to 10.9 percent. The leasing arena experienced some space coming back to the market as net absorption registered negative 192,083 square feet.

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2020 Q1 Pleasanton/Tri-Valley Office Market Research Report

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Related Experts

Douglas Garcia

Regional Research Director, Northern California

Pleasanton

Doug is the Regional Research Director for Colliers International covering offices across Northern California. As Regional Research Director, he is charged with the organizational and strategic development for the Research Function in these offices.  Additional responsibilities include oversight of the Development team for the region's proprietary property database and related technology.

Doug began his career in the commercial real estate industry in 1999.  After joining Colliers International as a Research Assistant, he was promoted to Research/GIS Director for the Colliers International Walnut Creek office.  Under his leadership, the Research function expanded from its original scope in support of the Office brokerage platform, to include the Industrial and Retail divisions.  His responsibilities included Research Database Integrity, Quarterly Report Publication, GIS, Mapping and Demographics, and all other services provided by the local Research Department. 

He specialized in Geographical Information Systems (GIS) analysis.  As a former GIS Specialist, Doug has worked with Brokerage and Corporate Services to analyze best use and site location projects for clients including, Safeway, Inc., Longs Drug Stores and Safeamerica Credit Union. 

Doug is a native of the San Francisco Bay Area, and enjoys travel with his wife Kelly and sons Gabriel and Roman and attending their team sporting events.

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Michael Carrigg

Executive Managing Director & SVP

Pleasanton

Mike has been with Colliers since 2001. His focus is on representing both corporate tenants and institutional landlords in the East Bay with their local and national real estate needs. He acts as a single point of contact, assisting his clients with acquisitions, dispositions, lease negotiations, financial analysis, market analysis, lease administration and portfolio strategy. 

Mike has negotiated over 1,000 separate lease and/or sale transactions totaling in excess of $250,000,000 total transaction value. His vast experience in the market and the relationships he has developed give Mike first-hand knowledge to smoothly guide a client through the transaction process – from market analysis and economics to the eventual lease or sale negotiation. 

Mike is extremely committed to fostering relationships with his clients, as evidenced by the high level of service he provides before, during and well beyond any transaction. He is a man of high integrity and is a fun person to work with. 

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