Skip to main content Skip to footer

Oakland Office Market Research Report Q4 2022

Download Report
alt=""

Rents and Vacancy Show Signs of Stabilizing

MR_OAK_22Q4_OFC_175x227

The Oakland metropolitan area’s office vacancy rate increased from 15.5 percent to 15.6 percent in the fourth quarter of 2022 and continues to be impacted by the pandemic and drop in office use. Net absorption was negative 12,691 square feet for the fourth quarter and negative 613,741 square feet YTD for 2022. The combined average asking rate across all classes of office space decreased by $0.01 per square foot to $4.44 per square foot per month full service (FS). These figures suggest that rental and vacancy rates in the Oakland office market in the Oakland metropolitan area are stabilizing. One likely explanation is the continued conversion of office to life science space, as evidenced by the largest leases this quarter.

Would you like to have future reports delivered directly to your inbox? Sign-up to this and other regional e-mail delivery lists.

Subscribe Here


alt=""

Oakland Office Market Research Report Q4 2022

Download Report
Related Experts

Jeff Horwitz

Research Analyst

Oakland

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. 

View expert

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.

View expert

Tony Burnett

Executive Managing Director

Oakland

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.

 

View expert