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2021 Q1 Pleasanton/Tri-Valley Office Market Research Report

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On the Road to Recovery

MR_PLS_Q1_2021_OFCFollowing the downturn of 2020, the Tri-Valley office market struggles to recover. With more than a year into the pandemic, companies are ready to get back into the office. Until the new normal working environment is established, the return of employees to the office will be a slow recovery process throughout 2021. Since the beginning of the pandemic, vacancy rates increased 3.7 percentage points to 14.6 percent from a year ago; resulting in an occupied loss of 204,000 SF of net absorption for the quarter. Currently, there is an additional 2.0M SF of direct and sublease occupied space on the market. If vacant, the overall vacancy rate in the Tri-Valley office sector would be 16.3 percent.

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2021 Q1 Pleasanton/Tri-Valley Office Market Research Report

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Related Experts

Lisa Kohler

Senior Research Analyst

Pleasanton

Lisa is a member of the highly acclaimed Pleasanton Administrative team. 

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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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