Oakland Is Giving SF A Run For Its Money

The commercial real estate market in Oakland has taken off in the last few months, due to companies looking for cheaper space in the high-priced San Francisco office market.

Uber recently purchased the former Sears department store for $123.5 million. Meanwhile, Lane Partners has large mixed-use plans in the area. Cushman & Wakefield also estimates that $1.3 billion in commercial real estate transactions have taken place in the locale over the last three years.

Along with transactions, tourism and hotel occupancy continue to rise, old neighborhoods are receiving facelifts, and housing developments are filling the region.