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The Tri-Valley Industrial market remained stable in Q2 2024. In Livermore, a 475,000 SF project was pre-leased prior to construction, showing continued demand for large buildings with modern amenities in strategic infill locations.

Owner/user sales began picking up, signaling a positive trend for both buyers and sellers. Overall, sale pricing and lease rates have decreased from their peak in recent quarters, but volume is returning. We expect pricing and rates to stabilize into Q3. However, motivated owners may need to adopt aggressive strategies to sell or lease properties.

Sean Offers, SIOR, Principal Lee & Associates East Bay