2019 Q1 Walnut Creek Office Market Research Report

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2019 Q1 Walnut Creek Office Market Research Report

A Delicate Balance

While the North I-680 Corridor has performed very well in recent quarters, market activity has stabilized and cooled down. Asking rental rates continue upward, reaching new all-time highs. Although rental rates have been increasing the past several quarters, vacancy has followed suit, increasing to 15.4 percent, from 15.0 percent the previous quarter.

Rents are staying relatively high in the Downtown Walnut Creek, Shadelands, Pleasant Hill BART, and Concord submarkets. Class A rents overall are at $3.45 per square foot, a $0.05 increase over the last quarter. Class B rents have buoyed at $2.44 per square foot, the same as the previous period. Overall average asking rents increased to $2.96 per square foot, a $0.05 increase from the prior quarter. This is the third consecutive quarter of setting an all-time high for asking rates in the North I-680 Corridor.

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2019 Q1 Walnut Creek Office Market Research Report

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Cristian Villarreal

Research Analyst

Walnut Creek

Cristian Villarreal is Colliers International's Market Research Analyst for the Walnut Creek office. Cristian is responsible for maintaining, verifying and updating the commercial property database inventory, including available and comparable records, and creating and publishing  quarterly reports.

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