The Bay Area remains under COVID-19-induced shelter-in-place
orders, and the global economy has largely come to a standstill. The
East Bay experienced increases in vacancy, decreases in rates, and
positive net absorption. Oakland’s government faces unprecedented
levels of economic distress, and has fallen into a budget crisis. Kaiser
has pulled out of the Thrive Center development, and will not be
consolidating 7,000 employees into the 1.6 million SF building as
previously planned. San Leandro experienced notable leasing activity,
with three of the top four leases signed this quarter located in San
Leandro.
orders, and the global economy has largely come to a standstill. The
East Bay experienced increases in vacancy, decreases in rates, and
positive net absorption. Oakland’s government faces unprecedented
levels of economic distress, and has fallen into a budget crisis. Kaiser
has pulled out of the Thrive Center development, and will not be
consolidating 7,000 employees into the 1.6 million SF building as
previously planned. San Leandro experienced notable leasing activity,
with three of the top four leases signed this quarter located in San
Leandro.