OAKLAND, CA—Both hiring and leasing activity are ramping up inthe Oakland office sector, which is improving fundamentals atexisting assets. That is according to a recent report from Marcus& Millichap. “Developers are focused entirely on the other BayArea markets, which is funneling all new space demand in Oaklandinto current office inventory.”
According to the firm, this trend should give owners an extendedrun of strengthening operations as underway construction is alsoabsent and the permitting process within the East Bay is among themost challenging in the country. “Space demand is coming frompopulation-serving office users seeking local footprints.”
Thus far in 2014, Morgan Stanley, Del Monte Foods and AIG havesigned new leases in the area. However, Marcus & Millichap saysthat hopes that the major technology companies will move into thearea are fading due to the many millions of square feet of officespace coming out of the ground in San Francisco and San Jose.Despite that, the firm says that conditions in Oakland are poisedto gain ground due to the overall strength of the Bay Area'seconomic forecast.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, 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.
