OAKLAND. FINALLY WHERE (ALMOST) EVERYBODY WANTS TO BE.
Oakland has shifted from a city where it was hard to draw in capital just a few short years ago to one where both residents and companies are eager to secure an urban lifestyle, our panelists told around 550 commercial real estate pros at our Oakland State of the Market’event this week.
CBRE SVP Mike Keely said it’s about synergy’office, residential and retail. You can’t attract jobs without a place for employees to live or eat, he said. Mike’s been in Oakland since 1987. Three or four years ago, a company that moved its offices from San Francisco to Oakland to save on rent would go back to San Francisco if the rent difference narrowed, Mike said. Now, however, people are living and staying in Oakland.