San Jose Mercury News: Demand for city's commercial properties likely to rise, October 21, 2015


Demand for commercial rental properties will likely increase in Alameda, a spinoff from the Bay Area's real estate boom that has tenants scrambling for spots that are cheaper than what's available in San Francisco and Silicon Valley.

"This rising tide is lifting all boats and I think it's going to lift all types of commercial assets in Alameda," said Ted Anderson of brokerage Cushman & Wakefield, the city's leasing agent for Alameda Point.

Among the tenants already at Alameda Point are Google and Wrightspeed, the company created by Tesla Motors co-founder Ian Wright that produces technology to make commercial trucks greener and more energy efficient.

And while the area's cavernous warehouses and aircraft hangers were built for industrial use when it was the Alameda Naval Air Station, its proximity to San Francisco and Oakland will likely continue to make it attractive for artisans or tech companies, Anderson told the City Council on Tuesday.