East Bay expert John Cumbelich just released a summary of Q2 in Walnut Creek retail, with overall vacancy dropping to historic levels in the downtown market (thanks to over 22,000 SF of new leasing). It's seen positive net absorption in 11 of the past 12 quarters. Walnut Creek’s twelve neighborhood centers also remained vibrant with occupancy in excess of 97% at the end of the period. New retail developments both in the downtown core and the neighborhoods appear to be timed perfectly, as an under-supply of inventory has caused historic highs both in rent levels and occupancy he says. Meanwhile, existing centers have major remodels underway.
Walnut Creek Update
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John Cumbelich, Walnut Creek
