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Historically Low Vacancies Hover at 1%

Demand is robust for industrial distribution space amid the buildout of e-commerce fulfillment centers, especially on the 880 corridor where there are tenants looking for 9.8 million square feet in total.

2300 Polvorosa Ave. A 75,414-square-foot industrial building located at 2300 Polvorosa Ave. recently sold.

SAN LEANDRO, CA—As mentioned in a previous article, Valley industrial projects can’t be completed quickly enough. Some projects are going from close of escrow to construction in 18 months, depending on the city, according to the CBRE Oakland industrial team.

“There is a supply imbalance on 880 where the demand is far above what is being built,” Michael Barry, senior vice president, CBRE, tells GlobeSt.com. “There are tenants looking for 9.8 million square feet of space. It’s a difficult market. The leasing is completed in many buildings before construction is finished.”

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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