First Quarter 2013 Office Research & Forecast Report – The North I-680 office market continued the recent trend of incremental improvement. Total vacancy registered a modest 0.1 percentage point decrease to 15.6 percent coupled with an increase in average asking rents. There was 20,821 square feet of positive net absorption. New leasing activity and tenant relocations were focused in the Class A and B markets. Class A properties led the market in net absorption registering 35,091 square feet. The Class B submarket followed with 18,521 square feet of net absorption. Class C properties gave back space to a total of 32,791 square feet. Total average asking rents for all classes increased $0.01 PSF to $1.83 PSF. We expect more positive net absorption throughout 2013.
2013 Q1 | Walnut Creek Office | Market Report
