2020 Q3 Walnut Creek Office Market Research Report

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Weathering the Storm

MR_WNC_20Q3_OFC_175x227As we enter the final quarter of 2020, the pandemic continues to drastically impact the North I-680 office market. The weighted overall vacancy rate has increased to 17.4 percent, the highest since 2012. Surprisingly, overall “asking” rents have increased only slightly but the spread between asking rents and subsequent individual deal proposal rents continues to increase. As employers continue downsizing and maintain the work from home status for employees it’s unclear when market indicators will trend firmly back toward normal.

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2020 Q3 Walnut Creek Office Market Research Report

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Related Experts

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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