Colliers International reports that the Class A commercial property segment in Walnut Creek 680 corridor improved in 2014 1Q.
The report notes that the Walnut Creek Pleasant Hill BART Class A submarket in the Walnut Creek 680 corridor, registered a 230 basis point decrease in vacancy. The submarket tracked 41,011 square feet of net absorption. Vacancy now stands at 11.5 percent returning to a level seen one year ago. The most significant lease transaction was Del Monte Foods 26,835 square foot, sixth floor lease at PMI Plaza.
Concord, the county’s biggest city along the Walnut Creek 680 corridor, improved during the first quarter. Class A vacancy gave back space as vacancy increased 20 basis points to 16.2 percent. Class B vacancy fell 90 basis points to 16.8 percent. Class C vacancy dipped 40 basis points to 27.8 percent. The Class A submarket tracked 7,579 square feet of negative net absorption for the quarter. There were several significant transactions during the first quarter. At Concord Gateway II, Old Republic Title leased 10,787 square feet on the second floor. At Concord Gateway I, Dekra Certification renewed 7,457 square feet on the ninth floor. Anka Behavioral leased 7,051 square feet at 1957 Parkside Drive. At One Concord Center, Equifax renewed 3,872 square feet on the fifth floor. Ambitech took 2,759 square feet on the third floor.