March 20, 2009
According to Jeff Weil’s blog in the East Bay, the Shadelands submarket of Walnut Creek saw only a single lease get inked in the past 90 days, and it was for a whopping 520 square feet.
For those of you not familiar with Shadelands, its a roughly 250 acre portion of Walnut Creek with some 2-3M SF of office space (depending on what you count as office or medical).
If in fact only one lease was signed for 520SF, gross leasing volume would be .02% of available product, a remarkably low and depressing figure, for landlords. For tenants, its all music to their ears – just remember to get a protect your lease.
- Neiman Marcus’s Walnut Creek Approvals Repealed
- Studley Says…
- Z Gallerie Closing Third of Stores
- Neiman Marcus Signs Lease at Broadway Plaza in Walnut Creek
- Weakness in Rents Beginning to Show