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Oakland rent growth places 3rd among top global performers

​Tight market conditions continue to keep pressure on rents, especially in Oakland CBD where competition for Class A space pushed total vacancy down to 3.0 percent in Q4.

The lack of space in the CBD pushed asking rents up 14.3 percent year-over-year, the highest rent growth among all U.S. markets and the third highest among global markets.

With vacancy at historic lows, new office development may be on the horizon for Oakland. Until then, rental rates should continue an upward trend as long as tenant demand remains steady from companies looking to move east. ​

​Source: JLL Research, JLL Global Office Index Q1 2017, based on rents for Class A space.

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