Investment Activity Increases, Led by Life Science Sector
The Oakland Metropolitan Area’s office vacancy rate across all classes increased in the second quarter of 2021 from 11.5 to 12.0 percent. Vacancy remains high as many tenants are continuing to assess their return to the office strategy, but touring activity and investment sales are increasing. California’s official reopening on June 15 and rising vaccination rates are leading to optimism that a recovery may begin this fall, and gain momentum in 2022.
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