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2022 Q1 Walnut Creek Office Market Research Report

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A new era

MR_WNC_22Q1_OFC_175x227After two years of the pandemic impacting our office markets, the commercial real estate landscape in the North I-680 Corridor is gaining serious momentum. The overall vacancy rate has decreased to 18.9 percent, marking three quarters of consecutive decreases in vacancy since the pandemic began. Overall weighted asking rents decreased to $3.06 from $3.12 the previous quarter. Lease velocity continued the momentum from the previous quarter leading to 110,510 square feet of absorption across all submarkets.

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2022 Q1 Walnut Creek Office Market Research Report

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Related Experts

Cristian Villarreal

Research Analyst

Walnut Creek

Cristian Villarreal is Colliers International's Market Research Analyst for the Walnut Creek office. Cristian is responsible for maintaining, verifying and updating the commercial property database inventory, including available and comparable records, and creating and publishing  quarterly reports.

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Scott Ellis

Executive Managing Director

Walnut Creek

Scott originally started his career in commercial real estate at Grubb & Ellis, where he served for 20 years as Office Division Director.  Scott then joined Colliers Parrish International in Walnut Creek in 2000 where he spent 11 years as Senior Vice President and Office Division Director and recently returned as Executive Managing Director. 

Over the past 30 years, Scott has been regarded as one of the top office brokers in the north I-680 corridor.  During his career, he has successfully leased over 5,000,000 square feet of office space and brokered over $920,000,000 in office building sales.  Scott has brokered three of the largest leases ever done in the I-680 market to such companies as PG&E, Contra Costa County and Wells Fargo.  During his career, Scott has consistently been awarded top overall office division producer, Office Broker of the Year and Circle of Excellence. 

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