North I-680 Office Market
The vacancy rate remained at 24.2% in the third quarter of 2024, with slightly positive net absorption of 4,978 square feet. Class A Market absorption was stronger than the overall market, with 23,305 RSF of positive absorption bringing the Class A YTD total to 88,094 RSF of positive absorption. Leasing pace/tenants in market is strong with good migration activity to North I-680 from Oakland and San Francisco. Buildings with high occupancy and “new deal momentum” are attracting prospective Tenants. The push to bring employees to full buildings is preferred as employers look to stabilize or build the office culture.