Q2 2023 East Bay Office Occupier's Guide

The East Bay office market continues to favor tenants, even so, leasing activity remains slow. Tenants signed 108K SF of leases this quarter, down from 170K SF last quarter. The average size of lease signed decreased to 2,934 SF from 3,201 SF quarter-over-quarter.

Availability rates increased from 34.5% to 35.6% this quarter.   Despite increasing availability rates and shrinking tenant activity, asking rates ticked slightly upwards to $4.57/SF from $4.52/SF quarter over quarter.