Rent Growth In East Bay Fastest In The World
Office rents in Oakland and East Bay are up 35% since last August, making it the world's fastest-growing market in a new JLL ranking.
Companies such as Uber and GAP are fleeing the expensive San Francisco market and looking for space across the Bay, according to the San Francisco Business Times. Vacancies have dipped to a historic low of 4%, following rising demand. (To learn more, join us for our Oakland's Future of Office event Sept. 27.)
While rents in S.F. lead on an absolute dollar basis, growth accelerated in Oakland, placing it above LA, Hong Kong and Dubai in JLL's ranking. [SFBT]