Market Updates: Industrial

Oakland’s manufacturing belt stretches from the Oakland International Airport to the Port of Oakland. Covering more than 5,000 acres of strategically located real estate, the area contains more than 24 million square feet of manufacturing, warehouse, and distribution facilities.

Grubb & Ellis ranked the Oakland area 7th in its U.S. Industrial Market Strength Forecast for 2008-2012. Similarly, Marcus & Millichap ranked Oakland as the 6th best Industrial market in the country in its Midyear 2008 Report.

The Community & Economic Development Agency seeks to encourage economic growth in selected industrial areas by developing and implementing an Industrial District Strategy. A public infrastructure assessment and recommendations report provides groundwork for implementing an Industrial District Strategy. The report first focuses on determining the ability of the existing infrastructure to support the core growth element of the Industrial District Strategy. Next, gateway and streetscape opportunities to enhance the zones are examined. Finally, priorities for implementing the improvements are established.

Public Infrastructure Assessment and Recommendations Report

17MB

Manufacturing
• 6.6% Vacancy Rate
• $0.47 Average Asking Rate (NNN)

Source: 2009 Northern California Commercial Real Estate Overview, NAI/BT

Warehouse
• 5.8% Vacancy Rate

• $0.45 Average Asking Rate (NNN)
Source: 2009 Northern California Commercial Real Estate Overview, NAI/BT

Oakland tied for 4th spot on Grubb & Ellis' Investment Opportunity Monitor for 2009 for Industrial markets.

The City has developed an innovative set of resources and tools to enable brownfields reutilization, which will add even more developable land to Oakland’s stock.