Laserfiche WebLink
<br />Throughout the Tri-Valley, <br />technology and other office-based <br />companies have been attracted by <br />abundant housing, the skilled labor <br />force, shorter commute times. and <br />available land. However. current <br />market conditions vary widely <br />among communities in the Tri- <br />Valley. and between different types <br />of office and flex space. With <br />vacancy rates decreasing in most <br />submarkets across the Tri-Valley, <br />the regional office and industrial <br />rental market is gaining strength. <br />With decreasing vacancies, outlook <br />for rental rates is positive despite <br />current downward trends in some <br />market segments. Across the Tri- <br />Valley the Class A office market is <br />very strong, with average asking <br />rents of $2.13 per square foot having increased by 15.8 percent and vacancy decreasing by <br />nearly two percent, from the fourth quarter <br />of 2004 to the third quarter of 2005. <br /> <br />Office and Industrial Market Overview <br /> <br />Table B-7 shows historic data <br />from Colliers International <br />illustrating office and industrial <br />market trends in Pleasanton and <br />the Tri-Valley from 1999 through <br />2004. After the collapse of <br />important segments of the high <br />technology sector, vacancy rates <br />across the region soared by the <br />fourth quarter of 2002 as rental <br />rates began to drop. The <br />Pleasanton office market is <br />recovering, however, with <br />vacancy rates dropping from <br />19.2 percent in 2002 to 13.9 <br />percent in 2004 Gust slightly <br /> <br />Historic Office Market Trends (Fonrth Quarter), Pleasanton <br />aud the Tri-Valley <br /> <br />$4.00 <br /> <br />.. 120% <br /> <br />$3.50 <br /> <br />""" <br /> <br />$3.00 <br /> <br />.- <br /> <br />$2.50 -- <br /> <br />80% <br /> ~ <br /> > <br />-- 60% . <br />t <br /> s <br /> 0 <br />40% <br />20% <br />0% <br /> <br />. <br />.2 $2.00 <br />I <br />- <br /> <br />$1.SO <br /> <br />$1.00 <br /> <br />$0.50 <br /> <br />$0.00 <br /> <br />1999 2000 2001 209~___ _2QQ~___ 200~ 2005 <br />i -iiiiil-Ple<lSa~t;;~- Occ~P;;cy Rates c:=::JTri-Valley Occupancy Rates 1 <br />i -+-P]easanton Lease Ral~~_ _____- ~.._ Tri~Valley Lease R~te~ _ _ J <br /> <br />Note: 2005 Data is for 302005 <br /> <br />Historic Industrial Market Trends (Fourth Quarter), <br />Pleasanton and the Tri-Valley <br /> <br />2.5 ............- _.._--~- <br /> <br />0.95 <br /> <br /> " <br />3 <br />I <br />, <br /> . " <br /> " <br /> <br />0.9 a <br />~ <br />i <br />, <br />0.850 <br /> <br />,.. <br /> <br />.L <br /> <br />1'!'J9 }(lQO _ _ 20lH 200~ ]003____ 2004 <br />~PIc:"<anlOnOccupanc:)'R.alcs c=:=:::JTri-VallC}OcCUPanc'o'R.alC~---1 <br />Pleasanton Economic Development Backgrourl _ -Plcasanlon Lo:asc Rales _ ______-=-.!_-=-!!!~~a.!!~_~~ Rates I <br />RNAL -January 2006 ~olc No companblc: Jal. ",'.il.ble i"o' 2005 <br /> <br />33 <br />