2019 Q4 Walnut Creek Industrial Market Research Report

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Inventory Shortage

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As we wrap up 2019 and move into the new year, the North I-680 Corridor industrial market remains very tight. The overall vacancy rate increased to 4.3 percent, from 4.0 percent last year while rental rates moved only negligibly to $0.86 from $0.85 from last quarter. On the leasing front, the year-to-date net absorption registered negative 32,409 square feet, while the sale side of the market registered just three sales this quarter, which is lighter than past quarters. Despite this, brokers contend that industrial properties have seen more appreciation compared to other property types, making it an attractive investment opportunity.

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2019 Q4 Walnut Creek Industrial 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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Scott Ellis

Executive Managing Director

Walnut Creek

Scott originally started his career in commercial real estate at Grubb & Ellis, where he served for 20 years as Office Division Director.  Scott then joined Colliers Parrish International in Walnut Creek in 2000 where he spent 11 years as Senior Vice President and Office Division Director and recently returned as Executive Managing Director.

Over the past 30 years, Scott has been regarded as one of the top office brokers in the north I-680 corridor.  During his career, he has successfully leased over 5,000,000 square feet of office space and brokered over $920,000,000 in office building sales.  Scott has brokered three of the largest leases ever done in the I-680 market to such companies as PG&E, Contra Costa County and Wells Fargo.  During his career, Scott has consistently been awarded top overall office division producer, Office Broker of the Year and Circle of Excellence. 

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