Oakland, CA Office Overview
The Oakland real estate market includes the Embarcadero, Fremont, and San Antonio submarkets. With a metropolitan population of nearly 2.8 million people, the market in Oakland is driven by the demand from employers in the transportation, financial services, and healthcare industries.
As of mid-2017, the Oakland 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 office space in Oakland.
Oakland, CA Office Inventory Description
The city is a major trade center in the San Francisco Bay region, with its port 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 jobs 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 market.
Some of the strongest demand for Class A space in the metro comes from the Downtown Oakland submarket. Located north of I-880 and east of I-980, near Uptown, this area is home to prestigious buildings such as the Central Building, Lake Merritt Tower, and the iconic 1212 Broadway building.
Oakland, CA Commercial Inventory Breakdown
Total: 24,232,277 SF
By square footage range:
- 50k to 100k SF: 3,119,950 SF / 12.88% of total office
- 100k to 500k SF: 9,861,466 SF / 40.7% of total office
- 500k to 1M SF: 9,480,861 SF / 39.12% of total office
- > 1M SF: 1,770,000 SF / 7.3% of total office
- Class A: 10,579,389 SF / 43.66% of total office
- Class B: 7,085,540 SF / 29.24% of total office
Top 10 Largest Office Buildings
|Office building||Address||Sqft||Year built|
|Waterfront Ballpark District at Howard Terminal||SEC Adeline Street & 3rd Street, 94607||1,770,000||n/a|
|415 20th Street||415 20th Street, 94612||900,000||n/a|
|Webster Street Tower||300 Lakeside Drive, 94612||892,900||n/a|
|Telegraph Tower||2200 Telegraph Avenue, 94612||875,000||n/a|
|Elihu M. Harris Building||1515 Clay Street, 94612||700,589||1998|
|1800 Harrison||1800 Harrison Street, 94612||657,498||1984|
|Eastmont Town Center||7200 Bancroft Avenue, 94605||541,390||2000|
|Lake Merritt Plaza||1999 Harrison Street, 94612||535,252||1985|
|Ordway/1 Kaiser Plaza||1 Kaiser Plaza, 94612||530,000||1970|
|Lake Merritt Station||SWC 9th Street & Fallon Street, 94607||517,000||n/a|
Most Recently-Built Office Buildings
|Office building||Address||Sqft||Year built|
|Autthaus Studios||2744 East 11th Street, 94601||112,000||2018|
|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|
|2001 Broadway||2001 Broadway, 94612||59,186||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|
Oakland, CA Green Office Space
The San Francisco Bay Area has some of the nation's most environmentally-conscious tenants and 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 building in the city is the 225,000-square-foot Franklin Building. This investment-grade building is located in the Chinatown submarket and holds a prestigious LEED Gold certification.
In 2017, the National Green Building Adoption Index surveyed the top 30 major 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 green, totaling over 7.2 million square feet.
Oakland, CA's Top Office-Using Sectors
The demand for Oakland commercial real estate is created in large part by top sectors like the transportation, financial services, high technology, healthcare, and corporate sectors.
- Transportation – Demand for commercial real estate in the city 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 jobs in the area.
- Healthcare – Kaiser Permanente, Alameda Health System, and the Children's Hospital Oakland are among the top users of office space in Oakland.
- Corporate Offices – Demand also comes from large companies headquartered here, such as Clorox, Dreyer's Ice Cream, Cost Plus World Markets, BrightSource Energy, AMCO Chemical, and Namesys.
- Total Population421,042
- Male Population(48.4 %) 203,786
- Female Population(51.6 %) 217,256
- Median Age36.50
- Average Household Income$101,853
- Median Household Income$68,442
- Median Income Under 25$46,056
- Median Income 25-44$77,645
- Median Income 45-64$73,861
- Median Income Over 65$45,064
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