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CBRE reports high demand for creative buildouts in Oakland as the market continues to tighten. The commercial realty brokerage’s most recent Oakland Office Marketview notes quarter-over-quarter rent growth for Class B space (4.2%) easily outpaced growth for Class A assets (1.6%), and explains “the overall look and feel” of Class B creative product makes it “truly a legitimate alternative to premium rents for tenants seeking exciting and desirable space.”

Demand for office space in downtown Oakland has surged as increasing San Francisco office rents have led companies to relocate — many to the East Bay. The office market in downtown Oakland is the tightest in the nation, with lower office vacancy levels than even those in business centers such as Manhattan and Boston.

“Downtown Oakland offices have seen expansion from San Francisco, not just in tech, but primarily in non-tech companies that want to stay in the Bay Area but find the rents in San Francisco too high,” Lexi Russell, a senior research analyst for CBRE in Northern California, told the Mercury-News. “Companies are finding it beneficial to relocate to Oakland because so many of their employees live in the East Bay and the rents are less expensive.”


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More than 3.18 million square feet of office space has been built in the past five years or is currently under construction, according to the Downtown Denver Partnership. This marks a record high for the city, which celebrated the midpoint of its 20-year plan for growth last year.

The Downtown Area Plan is intended to create a “livable, healthy and economically powerful downtown,” and the city has seen tangible results. Significantly improved transit, increased retail offerings, and a downtown residential community that has more than doubled can all be credited to the plan in action, writes Tami Door, president and CEO of the Downtown Denver Partnership, in Colorado Real Estate Journal article.

The increase in office construction has not resulted in high or reduced lease rates, however, as one might expect in the face of significantly increased supply. Instead, Door writes, the downtown market is witnessing stable vacancy at 11.6% and rising lease rates at an average of $33.09 per square foot.

Among the sources of increased demand, Door notes the presence of more than 700 tech startups in downtown Denver, who collectively employ nearly 5,000 workers. The large volume of startups raised $500 million in venture capital during 2017 alone.

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According to an NREI report, sales of industrial properties rose 3% between 2016 and 2017, while industrial real estate investments increased a significant 23.2%. BisNow explains that the recent increase in activity can be attributed to three major trends in the market: Distribution and Logistics, Fast and Fresh, and Heightened Attention to Broker-Client Relationships.

To read the article, click here.

Distribution and Logistics:
The birth of e-commerce significantly altered decision-making factors for companies looking to lease industrial space. Prior to the rise in e-commerce business, companies sought out well-located properties for the lowest possible rent. E-commerce shifted the consumer consumption patterns to revolve around quick delivery and convenience, specifically the demand for same-day and next-delivery. This shift has forced companies to refocus their delivery strategies, which may mean choosing location over price.

Fast and Fresh:
Consumer demand is at an all-time high for meal-kit delivery companies like Blue Apron and Hello Fresh. Companies like these heavily rely on fast delivery to satisfy the customer’s expectation they will receive fresh food, and proximity to customers and distribution channels is a key consideration for these company’s real estate decisions. Hello Fresh’s strategic decision to located their operations in New York puts them in easy delivery distance of their customer base, and Amazon has recently acquired cold storage warehouses near Dallas, Chicago, and New York City.

Heightened Attention to Broker-Client Relationships:
Lastly, BisNow notes that brokers must increasingly focus on the specific needs of their clients. Different companies desire varying locations, square footage, and proximity to transit, and it is essential that broker’s focus on attaining a strong relationship with his or her client base.

These three key factors are expected to drive industrial real estate trends as long as e-commerce businesses are on the rise. 


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San Francisco-based Graham Street Realty added to its Denver portfolio with a pair of Englewood office buildings. Affiliate company Paramount Property Company will take over management of the building.

Pyramid Pointe, a 120,279-square-foot building at 9777 Pyramid Court in Meridian International Business Center, and 384 Inverness, a 51,523-square-foot building in Inverness Business Park, sold for $19.4 million. Westcore Properties and American Realty Advisors sold the properties in a deal handled by Newmark Knight Frank Executive Managing Directors Riki Hashimoto and Dan Grooters.

“We are excited about these new acquisitions, which are well-located relative to the new locus of executive and workforce housing in the southeast corridor, and we look forward to the opportunity to lease near-term rollover in a strong market,” said David Messing, Graham Street Realty co-managing principal.

Read the full article at www.crej.comRead more coverage of this transaction at