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2021 Q4 Oakland Office Market Research Report

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Recovery’s Progress Slows, Optimism for 2022

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The Oakland Metropolitan Area’s office vacancy rate increased in the fourth quarter of 2021 from 12.1 to 13.4 percent. After indications that a gradual recovery had begun in the third quarter, the recovery’s progress slowed in the fourth quarter as the pandemic continues to upend companies’ return-to-office dates via the Omicron variant. Net absorption was negative 456,427 square feet for the fourth quarter. The combined average asking rate across all classes of office space remained flat at $4.55 per square foot per month full-service gross (FSG).

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2021 Q4 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

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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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