The report went onto state that vacancy rates could still be heading up, with a probable weak 3rd quarter ahead, based on slowing job growth and dropping consumer confidence.
Locally there are still some signs of life, specifically in the Oakland area. Class-A rents in Oakland recently climbed to match Class-A rents in San Francisco. Additionally, nearly all of the 115,000 square feet of downtown Oakland Class-A space vacated in 2008 by American Presidents Lines (APL), has now been filled by various companies.
