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2022 Q2 Oakland Industrial Market Research Report

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By William Chui

Already Near Historic Low, Vacancy Continued to Fall

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High levels of industrial space demand across the Oakland I-80 / I-880 Corridor pushed overall vacancy closer to historic lows. At quarter end, the overall industrial vacancy rate was 2.4 percent, down 20 basis points (bps) from 2.6 percent in the first quarter. Industrial demand was largely driven by e-commerce and third-party logistics firms, following long-term shifts in consumer spending patterns and the lingering effects of pent-up demand for goods. Current demand appears to be outpacing new construction, which also remained at a high level. Average asking rental rates continued their growth as the combined average asking rent for industrial and warehouse properties is $1.17 per square foot per month triple net (NNN); the average asking rent for R&D/Flex properties is $3.61 per square foot NNN.

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2022 Q2 Oakland Industrial Market Research Report

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William Chui | Colliers | Oakland

William Chui

Research Analyst

Oakland

+1 510 433 5838
Email

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 | Colliers | Oakland

Tony Burnett

Executive Managing Director

Oakland

+1 510 433 5863
Email

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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