Oakland, CA - Office Market Overview
The Oakland real estate market includes the Embarcadero, Fremont, and Jack London office space submarkets. With a metropolitan population of nearly 2.8 million people, the office market in Oakland is driven by the demand from white-collar office employers in the transportation, financial services, and healthcare industries.
As of mid-2017, the Oakland office market encompasses nearly 14 million square feet of existing office space in properties larger than 50,000 square feet. As the third-largest city in the San Francisco Bay Area, and home to the Port of Oakland, a wide variety of business and industries maintains robust demand for commercial real estate in Oakland, CA.
Oakland, CA - Office Inventory Description
Oakland is a major trade center in the San Francisco Bay region, with the Port of Oakland being the fifth-busiest sea port in the entire U.S. With a gross metropolitan product of nearly $172 billion annually, the demand for white-collar office space is consistently strong. Nearly 60% of the office space in Oakland is Class A or A+, with Class B product adding over 5.4 million square feet of inventory to the office market in Oakland.
Some of the strongest demand for Class A office space in Oakland comes from the Downtown office submarket. Located north of I-880 and east of I-980, near Uptown, this area is home to prestigious office buildings such as the Central Building, Lake Merritt Tower, and the iconic 1212 Broadway office building.
Oakland, CA Commercial Inventory Breakdown
Total: 21,747,860 SF
By square footage range:
- 50k to 100k SF: 2,706,353 SF / 12.44% of total office
- 100k to 500k SF: 9,502,331 SF / 43.69% of total office
- 500k to 1M SF: 7,951,176 SF / 36.56% of total office
- > 1M SF: 1,588,000 SF / 7.3% of total office
- Class A: 10,579,389 SF / 48.65% of total office
- Class B: 6,532,254 SF / 30.04% of total office
Top 10 Largest Office Buildings
|Office building||Address||Sqft||Year built|
|Kaiser Permanente Thrive Center||2100 Telegraph Avenue, 94612||1,588,000||n/a|
|415 20th Street||415 20th Street, 94612||900,000||n/a|
|Beacon Tower||326 21st Street, 94612||859,775||n/a|
|Kaiser Center Tower||300 Lakeside Drive, 94612||792,000||1962|
|2201 Valley Street||2201 Valley Street, 94612||755,215||n/a|
|Elihu M. Harris Building||1515 Clay Street, 94612||700,589||1998|
|1800 Harrison||1800 Harrison Street, 94612||657,498||1984|
|601 City Center||601 12th Street, 94607||606,267||2019|
|1111 Broadway||1111 Broadway, 94607||553,210||1990|
|Eastmont Town Center||7200 Bancroft Avenue, 94605||541,390||2000|
Most Recently-Built Office Buildings
|Office building||Address||Sqft||Year built|
|UCSF Benioff Children's Hospital Oakland - Outpatient Center 2||744 52nd Street, 94609||89,000||2018|
|Kaiser Permanente Oakland Medical Center - Specialty Medical Office Building||3600 Broadway, 94611||275,000||2014|
|I. Magnin Building||2001 Broadway, 94612||60,500||2013|
|Jack London Square - 55 Harrison||55 Harrison Street, 94607||183,787||2010|
|Kaiser Permanente Oakland Medical Center - Broadway Medical Office Building & Cancer Center||3701 Broadway, 94611||165,000||2009|
|Center 21 - 2100 Franklin Street||2100 Franklin Street, 94612||216,666||2008|
|The Port Building||530 Water Street, 94607||145,231||2008|
|265 Hegenberger Road||265 Hegenberger Road, 94621||74,720||2005|
|8470 Pardee Drive||8470 Pardee Drive, 94621||48,000||2005|
|Fruitvale Village I||3401 East 12th Street, 94601||90,000||2003|
Oakland, CA - Green Office Space
The San Francisco Bay Area has some of the nation's most environmentally-conscious office tenants and office building developers. As a result, both the demand for and availability of green office space in Oakland continues to grow. One example of a LEED-certified office building in Oakland is the 225,000-square-foot Franklin Building. This investment-grade office building is located in the Chinatown office submarket of Oakland and holds a prestigious LEED Gold certification.
In 2017, the National Green Building Adoption Index surveyed the top 30 major office markets in the country and discovered that the share of LEED-certified, EPA Energy Star-rated, and green office buildings has increased by more than seven times over the past 12 years. While Oakland didn't quite make it into the top 30 markets, the city's commitment to energy efficient, green office space is quite clear. Of the larger office buildings in the city, an impressive 33% are considered to be green, representing over 7.2 million square feet of green office space in Oakland, CA.
Oakland, CA's Top Office-Using Sectors
The demand for Oakland commercial real estate and Class A office space is created in large part by top office-using sectors like the transportation, financial services, high technology, healthcare, and large corporate office-using businesses.
- Transportation – Demand for commercial real estate and office space in Oakland comes from companies such as BART, East Bay Express, United Parcel Service, and Southwest Airlines.
- Financial Services & High Technology – Ask.com, Golden West Financial, GT Nexus, and OneCalifornia Bank help to create white-collar office employment in the Oakland area.
- Healthcare – Kaiser Permanente, Alameda Health System, and the Children's Hospital Oakland are among the top users of office space in this business sector.
- Corporate Offices – Absorption of white-collar office space also comes from large companies headquartered in Oakland, such as Clorox, Dreyer's Ice Cream, Cost Plus World Markets, BrightSource Energy, AMCO Chemical, and Namesys.
- Total Population417,442
- Male Population(48.8 %) 203,849
- Female Population(51.2 %) 213,593
- Median Age36.40
- Average Household Income$93,849
- Median Household Income$63,251
- Median Income Under 25$42,646
- Median Income 25-44$70,317
- Median Income 45-64$68,538
- Median Income Over 65$42,824
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