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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.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
