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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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Related Experts

William Chui

Research Analyst

Oakland

As a Research Analyst in the Oakland office, I help manage our proprietary market database as well as various outside sources of data in order to develop ongoing market trend analyses for our brokers and clients. In addition, I assist in producing the monthly, quarterly and other specialized reports published by our office.

Having studied economics with a specialty in statistics at UC Davis, my role at Colliers allows me to use my expertise in an industry that is economically dynamic, but also very tangible in its impact.  I get a visceral enjoyment knowing so much about the buildings I pass by everyday. 

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. 

In addition to my research expertise and requisite tech capabilities, I am fluent in Mandarin and Cantonese.  Prior to joining Colliers, I worked for a tech start-up as a data analyst and became proficient in several important database programs.

In my spare time, I enjoy traveling, watching movies, and playing sports, especially running, badminton, and basketball.

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Tony Burnett

Executive Managing Director

Oakland

I have more than 25 years of management experience.  I started in the commercial real estate industry in 2006 at CBRE and rose from a vice president for advisory and transaction services to leading the sales management program across the Asia Pacific region, and most recently serving as senior director, portfolio services, responsible for driving Enterprise Account business. I bring significant experience in client growth and business development. Prior to CBRE, I worked for well-regarded global companies such as Hilton Hotels and UBS Financial Services.

 

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Susan Gregory

Executive Vice President

Silicon Valley

AREA OF EXPERTISE
Widely recognized as one of the most experienced and successful owner representatives practicing in Silicon Valley, Susan has worked on behalf of many of the most important landlords in the region. She is proud of the long-term success of these client relationships, which over the last 25 years have yielded over 100 successful transactions per year. Deal by deal, she brings the highest standards of skill, experience and creativity to her clients.  She is an expert in maximizing return via sophisticated marketing, lease negotiations  and financial analysis.

The breadth of Susan’s experience in new office development, is extensive—encompassing all phases from pre-ground-breaking planning to 100% lease up. Her professionalism and meticulous follow-through are evident in every aspect of her work and reflect the genuine passion and enthusiasm she has for the business. 

BUSINESS AND EDUCATIONAL BACKGROUND
Prior to joining Colliers in 1996, Susan worked in leasing and asset management as Vice President for PS Business Parks, Inc. In that role, she managed 3.8 million square feet of office and R&D properties in the western United States.

COMMUNITY INVOLVEMENT
In her free time, Susan enjoys tennis, travel and the extensive arts scene in the area.  She supports a number of philanthropic organizations that focus on the visually impaired and promoting the arts in the Bay Area.

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