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Oakland’s office boom might be in trouble. Despite the buzz around the East Bay city for the past year, Cushman & Wakefield indicates the number of San Francisco tenants seeking office space in Oakland has collapsed.
The worrying number could be attributed to lack of office space as Oakland’s vacancy rate has recently fallen below 8%, SocketSite reports.
San Francisco also had an increase in vacancy rates last quarter, the first in six years, which could indicate a slowing appetite for office space amid a tech slowdown. [SS]
