2020 Q4 Walnut Creek Office Market Research Report

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Vacancy Reaches New High to Finish 2020

MR_WNC_20Q4_OFC_175x227As 2020 comes to a close, the pandemic continues to ravage the landscape of the North I-680 Corridor’s office market. The overall vacancy rate has reached 18.8 percent, the highest rate since Colliers began tracking the market in 2000. Overall weighted asking rents increased to $3.22 from $3.17 once again in part to the mass influx of higher priced Class A space coming to market. As companies continue downsizing and allowing employees to work from home, these trends are on course to continue for the next few quarters.

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2020 Q4 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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