A Tale of Two Class-A Office Markets Within the Same City
On the one hand we have the recent announcement that the 260,000 SF Pacific Plaza office building at 1340 Treat Blvd. in Walnut Creek, directly across the street from the Pleasant Hill Bart Station, Class A and mostly leased to credit tenants, but plans now underway to replace it with 400 housing units. On the other side of Walnut Creek this morning I was at a broker’s open house at 1331 North California Blvd. where they announced the new asking rental rate of $6.50/rsf ($78/rsf annua), the new high-water mark for the San Francisco East Bay.
