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Walnut Creek Industrial Market Research Report Q4 2022

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Industrial Hero E

Ebbs and Flows

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As we move into 2023, the North I-680 Corridor industrial market continues mostly the same. The overall vacancy rate decreased to 6.5 percent, from 7.6 percent a year ago. Overall average asking rents decreased to $0.78 from $0.79 last year. The same issues that stall any major growth are still present: a lack of suitable inventory and a lack of new construction. Nevertheless, vacancy levels and rental rates ebb and flow as businesses shuffle around the region in hopes of finding their ideal home.

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Walnut Creek Industrial Market Research Report Q4 2022

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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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