Industrial demand continues to grow, and developers are having a hard time keeping up. In Oakland, there was 2.3 million square feet of industrial completions last year, roughly half of the completions in 2020, according to research from Marcus & Millichap. The completions were enough to increase the industrial supply by 1%, but not enough to keep up with rising demand.

The report expects development activity to ease once again in 2022, even as demand continues to rise. In Oakland, this demand will stem from major tech companies welcoming employees back to the office, and therefore back into the city. According to the report, these employees are ferocious consumers of delivery services, generating a need for warehouse and distribution space.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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