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Feeling negative in East Bay - East Bay Business Times:

Feeling negative in East Bay - East Bay Business Times:: "East Bay Business Times - November 27, 2006

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Feeling negative in East Bay
East Bay Business Times - November 24, 2006
by Jessica Saunders

A leading office broker described the East Bay office market as very quiet lately. It's no wonder.

Our part of the Bay Area is one of only two office markets nationally showing negative net absorption year-to-date, according to The Staubach Co.'s most recent quarterly newsletter.

The report said office space absorption for the East Bay was minus 510,590 square feet through Sept. 30, with a vacancy rate of 11.9 percent. That leaves a total of 10.98 million square feet unoccupied. Nationally, the only other market in negative territory was Cincinnati, with 22,470 square feet. At least we don't have Cincinnati's 15.4 percent vacancy rate.

Class A office space in the East Bay averaged $25.02 per square foot a year and B-grade space $20.09, according to data provided by CoStar Group Inc. in the Staubach report.

East Bay industrial space wasn't faring much better: it showed negative net absorption year-to-date of 429,798 square"

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