Huge Office Availability on the Bay Area Market

There was an announcement in TheRegistry that Google is putting over 1,000,000 square feet of office space on the market at Pacific Shores, Redwood City.  Yesterday there was a press release that Workday in Pleasanton was putting a 209,000 square foot office building on the market, vacant. A week ago I toured a Concord office building formerly occupied by Bank of America that had 400,000 square feet of raised-floor, totally vacant office space right next to the Concord Bart Station, and there are rumors that Wells Fargo might be giving up 2-3 office buildings in Concord. The silver lining in all of this…great leasing and purchase opportunities for any companies needing large amounts of office space. The sobering news-the office market has a long way still to go before we truly know it has hit bottom.