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Oakland Industrial Market Research Report Q3 2022

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By Jeff Horwitz

Leasing Activity Stays High While Sales Dip Slightly

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The overall industrial vacancy rate in the Oakland I-80 / I-880 Corridor increased from 2.4 to 2.8 percent in the third quarter of 2022, remaining near the historical low. Construction is starting to meet demand from e-commerce and logistics firms as total net absorption was negative for the first time since the third quarter of 2021. After a rapid ascent over the last three quarters, the combined average asking rental rates for industrial and warehouse properties decreased $0.04 from $1.70 to $1.66 per square foot per month triple net (NNN). The average asking rent for R&D/Flex properties increased $0.05 from $3.61 to $3.66 per square foot NNN. The rise in interest rates have slowed the sales volume and impacted valuations by approximately 15 to 30 percent. This trend is expected to continue for the rest of the year.

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Oakland Industrial Market Research Report Q3 2022

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Jeff Horwitz | Colliers | Oakland

Jeff Horwitz

Research Analyst

Oakland

+1 510 287 3125
Email

As a Research Analyst in the Oakland office, I analyze office and industrial trends for for our brokers and clients. I write our the quarterly reports published by our office, and I ensure the accuracy in our market database.

I enjoy working with the brokers to help develop their business, and I work closely with the Oakland research team and other researchers across the region. 

Prior to joining Colliers, I underwrote investments in affordable housing, edited a university publication. In my spare time, I enjoy music, movies, podcasts, and watching and playing sports. 

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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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