Two recent, significant office building sales in the TriValley occurred last month, offering a glimpse of what might be a busier 2012 for the commercial real estate industry:

In Hacienda Business Park, Maddie’s Fund (David Duffield, founder of PeopleSoft, endowed this charitable foundation with $300M focusing on animal welfare) purchased the 140,000 sf two story office building from Ellis Partners.  In Dublin, Ross Stores purchased 3 Class A office buildings totaling 414,000

The 880 Corridor industrial markets, the 580/680 industrial markets (Livermore), and the Central Valley (Stockton/Manteca/Lathrop/Tracy) industrial markets are all dependent to a great degree on how the Port of Oakland functions and thrives.  As the second largest West Coast port, and the fifth largest overall US port, Oakland’s throughput both in exporting and importing goods affects our rents, vacancies, and development of warehouse space in these markets.  This article

The Tri-Valley “Class A” office market had a number of large transactions and gross absorption of 1,024,141 square feet, which is 32% higher than the same quarter in 2010.  Also, the Tri-Valley’s “Class A” office market’s overall vacancy rate decreased to 13.1%.  The average asking rental rates for “Class A” in the Tri-Valley rose to $1.90 per square foot, full service.  With Alameda County’s unemployment rate at 10.7% in Augus

Our third quarter TriValley office market report should be coming by the next week or so.  Below are the highlights of our third quarter North America Office report.  For a full report, click on the following link:

Q3 2011 | North America Office | Market Report

In summary, the main points are: