WALNUT CREEK, CA—The class A office vacancy in Downtown Walnut Creek has fallen from 19.5% in 2010 to 9.3% in the second quarter of 2014. That is according to recent research from JLL.
According to the firm, it has also dropped 40 basis points from Q1 2014. “This significant drop in vacancy, coupled with strong leasing activity in limited class A space is driving rents significantly higher with class A rents up 4.8% since Q4 2013,” says the firm.
With only one large block of class A space that is 30,000 square feet and greater, the firm says there will be strong competition among the four tenants looking in that size range of space in Downtown Walnut Creek.
Check out the chart below for more on the subject.