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2021 Q3 Pleasanton/Tri-Valley Office Market Research Report

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By Lisa Kohler

A Flat Summer

MR_PLS_21Q3_OFC_175x227The office market experienced a decline in activity during the summer months in the third quarter. With the uncertainty of the return-to-office timeline due to the rising number of Delta variant cases, interest in leasing space has paused. As fewer deals transacted during the third quarter, the total gross absorption registered 226,873 square feet, a 2.4 percent decrease compared to a year ago. Marketwide vacancy increased 206 basis points to 14.8 percent from a year ago, resulting in a net occupancy loss of 37,876 square feet for the quarter. Asking rates decreased 3.6 percent to $2.71 per square foot from the previous year.

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2021 Q3 Pleasanton/Tri-Valley Office Market Research Report

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Related Experts
Lisa Kohler | Colliers | Pleasanton

Lisa Kohler

Senior Research Analyst

Pleasanton

+1 925 227 6236
Email

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

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Michael Carrigg | Colliers | Pleasanton

Michael Carrigg

Executive Managing Director & SVP

Pleasanton

+1 925 227 6220
+1 510 681 3182
Email

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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