Skip to main content Skip to footer

2021 Q1 Stockton/Central Valley Office Market Research Report

Download Report
alt=""

San Joaquin Office Market Sluggish Due to the Pandemic

MR_SCK_21Q1_OFC_175x227The San Joaquin County office market has continued to see decreased activity of local users over 5,000 square feet in office product. Certain submarkets are also experiencing an influx of East Bay tenants seeking space in the Central Valley to accommodate the workforces’ desire to eliminate a commute. The vacancy rate overall increased by 50 basis points to 8.0 percent. Sales volume for office product in the county during the first quarter of 2021 totaled $8.0 million, a small increase from fourth quarter 2020 that had a sales volume of $78. million. Year over year sales volume is down $3.5 million. Net absorption for San Joaquin County in the first quarter of 2021 was negative 36,422 square feet. Two office development projects remain underway totaling 75,000 square feet, with one located in Manteca and the other in Tracy. The overall average asking lease rate for the entire county increased by $0.02 to $1.78 per square foot monthly, full serviceg ross.

Would you like to have future reports delivered directly to your inbox? Sign-up to this and other regional e-mail delivery lists.

Subscribe Here


alt=""

2021 Q1 Stockton/Central Valley Office Market Research Report

Download Report
Related Experts

Kyle Mecker

Senior Research Analyst

Stockton

View expert

Michael Goldstein

Executive Managing Director and Vice Chair

Stockton

I am the Executive Managing Director for the Stockton/Central Valley office of Colliers International. My core focus is representing clients in all aspects of industrial real estate including land sales, investment sales, buyer/tenant site selection and acquisition and landlord/seller marketing and disposition.  I unsurpassed knowledge, strong relationships and credibility in the market creates opportunities for my clients.  Me and my team average more than 100 transactions annually, involving warehouse/ distribution centers, manufacturing facilities, flex buildings, special purpose properties and land throughout the San Joaquin Central Valley.

View expert