Strong migration trends have placed East Bay in Top 5 U.S. Office markets for rent growth since 2009
Strong and steady migration trends have been one of the primary drivers of office rent growth in the East Bay as surrounding markets tighten and pricing continues an upward trajectory.
January 28, 2020
- Over three million square feet of companies have migrated or expanded into the East Bay since 2010 – 87.0 percent of which were based out of San Francisco. Notably, from 2018-2019 more than 875,000 square feet of new migration/expansion deals were signed solely in Oakland, including Blue Shield, Square, and Credit Karma.
- Multifamily developers are active in the East Bay as well, with as much as 15,000 units under construction, planned, or approved through 2021. Major projects such as the Walnut Creek Transit Village and Oakland’s 634-unit Atlas Apartments are generally clustered within a 5-10 minute walk of BART stations and dense amenities corridors, which could play a vital role in continued migration trends for tenants and residents in the near future.