Alameda, CA - Office Market Overview
The Alameda market includes three distinct commercial areas: The Bay Farm Island, Marina Village, and West End commercial real estate submarkets. With a population of just under 80,000 people, Alameda is also part of the greater Oakland metro area that is home to nearly 2.8 million people. For a city just under 10.5 square miles in size, Alameda is also host to a wide variety of business and industry.
As of mid-2017, the Greater Alameda office market encompasses nearly 2.7 million square feet of existing office space in properties larger than 50,000 square feet. The demand for commercial real estate in Alameda comes from the city's adjacent location to the Oakland International Airport and its strategic location in the East San Francisco Bay Region.
Alameda, CA - Office Inventory Description
Nicknamed 'The Island City', Alameda consists of two islands and a third portion of the city called Bay Farm Island that is actually connected to the mainland and is adjacent to the Oakland International Airport. There is a solid variety of both Class A and Class B office space in the city. Class A or A+ office space in Alameda amounts to just over 1 million square feet, while Class B office product accounts for just over 1.6 million square feet.
While there are only 17 office buildings in the city larger than 50,000 square feet, the demand for office space in Alameda is consistently strong. Some of the larger office properties in Alameda include the Harbor Bay Business Park - 1320 Habror Bay Pkwy, Marina Village, and Alameda Center at 2430 Mariner Square Loop.
Alameda, CA Commercial Inventory Breakdown
Total: 2,897,451 SF
By square footage range:
- 50k to 100k SF: 1,100,966 SF / 38% of total office
- 100k to 500k SF: 782,178 SF / 27% of total office
- > 1M SF: 1,014,307 SF / 35.01% of total office
- Class A: 1,014,307 SF / 35.01% of total office
- Class B: 1,787,144 SF / 61.68% of total office
Top 10 Largest Office Buildings
|Office building||Address||Sqft||Year built|
|Marina Village||, 94501||988,153||1987|
|The Waterfront||, 94502||384,325||1997|
|Alameda Center||, 94501||155,040||1992|
|Harbor Bay Business Park - 1320 Harbor Bay Pkwy||, 94502||121,597||1986|
|Harbor Bay Business Park - 1420 Harbor Bay Pkwy||, 94502||121,216||1985|
|Harbor Bay Business Park - 1351 Harbor Bay Pkwy||, 94502||97,980||1984|
|Wind River Way - Future Development||, 94501||96,000||n/a|
|Harbor Bay Business Park - 1451 Harbor Bay Pkwy||, 94502||86,055||1984|
|Regatta Commons - 600 Wind River Way||, 94501||74,247||2001|
|Regatta Commons - 300 Wind River Way||, 94501||74,164||2001|
Most Recently-Built Office Buildings
|Office building||Address||Sqft||Year built|
|2801 Harbor Bay Pkwy||2801 Harbor Bay Pkwy, 94502||45,000||2012|
|2601 Harbor Bay Pkwy||2601 Harbor Bay Pkwy, 94502||45,000||2012|
|2901 Harbor Bay Pkwy||2901 Harbor Bay Pkwy, 94502||45,000||2012|
|2701 Harbor Bay Pkwy||2701 Harbor Bay Pkwy, 94502||26,404||2012|
|Venture Commerce Center - 2201-2263 Harbor Bay Pkwy||2207 Harbor Bay Pkwy, 94502||62,363||2007|
|Venture Commerce Center - 2161-2199 Harbor Bay Pkwy||2161 Harbor Bay Pkwy, 94502||63,154||2005|
|Regatta Commons - 600 Wind River Way||600 Wind River Way, 94501||74,247||2001|
|Regatta Commons - 300 Wind River Way||300 Wind River Way, 94501||74,164||2001|
|Regatta Commons - 500 Wind River Way||500 Wind River Way, 94501||74,097||2001|
|Harbor Bay Business Park - 1650 Harbor Bay Pkwy||1650 Harbor Bay Pkwy, 94502||63,936||2001|
Alameda, CA - Green Office Space
It may come as no surprise to learn that California is home to some of the most environmentally friendly, green office markets in the country. The 2017 National Green Building Adoption Index surveyed 30 major office markets in the U.S. to measure the growth of green office space. Over the past 12 years, the availability of LEED, Energy Star, and green certified office space has increased by a factor of nearly seven. In 2005 the average percentage of green office space across these top markets was less than 5%. Now, that percentage sits right at 38%.
One example of a LEED-certified building in Alameda is the Peet's Coffee & Tea coffee roasting and office facility in the city. This was the first building of any type to be awarded a LEED Gold certification in Alameda. Interestingly, this was also the first coffee roastery in the United States to receive a LEED certification.
Alameda, CA's Top Office-Using Sectors
The demand for Alameda CA commercial real estate and office space comes from a wide variety of business, including the top office-using sectors in Alameda of healthcare, government & education, and technology, along with larger corporate office users.
- Healthcare – Alameda Hospital, the Kaiser Foundation Health Plan, and Abbott Diabetes Care Inc. generate demand for white collar office space in Alameda.
- Government & Education – The Alameda Unified School District and the City of Alameda, along with the numerous businesses they attract, help to drive the local commercial real estate market.
- Technology – Penumbra, Inc. and Wind River Systems are two of the largest creators of white collar office employment in Alameda.
- Corporate Offices – Larger office users in Alameda include the Oakland Raiders, The North Face, and Penumbra.
- Total Population85,168
- Male Population(48.6 %) 41,428
- Female Population(51.4 %) 43,740
- Median Age40.90
- Average Household Income$75,338
- Median Household Income$55,401
- Median Income Under 25$30,588
- Median Income 25-44$66,806
- Median Income 45-64$59,325
- Median Income Over 65$32,281
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