OAKLAND, CA-With area-wide manufacturing vacancies coming in just over 3%, locally-based BT Commercial Real Estate is predicting the tight East Bay industrial market will persist into the foreseeable future.

The company’s just-released third quarter report for East Bay industrial properties put third quarter rent increases at a strong 5%. The report cites rents that range from $0.18 to $1.50 per sf. Hot spots include Berkeley, Emeryville and Fremont, where some rents are coming in on the high side of $1.50. Richmond and Oakland are coming in with rents closer to the low end of the scale.

East Bay warehouse space has shown similar strength over the last quarter. Average asking rents across the area jumped from 48 cents per sf to 54 cents per sf. Like manufacturing space, the warehouse market was a strong performer in Berkeley, Emeryville and Fremont, where asking rents were 99 cents per sf, $1.03 per sf and 67 cents per sf, respectively.

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