2014 Q3 | Walnut Creek Office | Market Report

Vacancy Increases as Bank of America Vacates Concord – The North I-680 office market showed increased vacancy across all classes in the third quarter 2014. The market posted 272,445 square feet of negative net absorption for the quarter while registering negative 114,381 square feet year-to-date. Most of the increase in vacancy was caused by the Bank of America spaces at 1655 Grant Street, Concord becoming vacant in August. That block of space had been on the market available for lease since October 2013 but was not officially vacant until recently and did not count toward market statistics until this quarter. Had those spaces not become vacant Class A absorption would have recorded a less significant 38,872 square feet.
2014 Q3 | Walnut Creek Office | Market Report

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