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2021 Q3 Oakland Office Market Research Report

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Indicators of a Gradual Recovery Underway

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The Oakland Metropolitan Area’s office vacancy rate increased fractionally in the third quarter of 2021 from 12.0 to 12.1 percent. This represents the smallest quarterly increase in vacancy since the pandemic’s inception. Net absorption was negative 28,006 square feet for the third quarter. The combined average asking rate across all classes of office space increased by $0.07 to $4.55 per square foot per month full-service gross (FSG). These indicators suggest the office market has begun a gradual recovery and greater improvements are anticipated in 2022.

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2021 Q3 Oakland Office Market Research Report

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Rob Gerard

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Rob joined the Fairfield office of Colliers International in 2010 as a Research Analyst, and previously was with the Santa Rosa office beginning in 2007.  Prior to that, Rob worked at a financial brokerage with a team of financial advisors where he was the team’s lead on research and analysis. 

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My professional relationships at Colliers bring me a lot of satisfaction.  I enjoy collaborating with the brokers on behalf of their clients, and work closely with the Oakland research team and other researchers across the region. 

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