Confidence amongst the venture capital community continues to rise in the East Bay with another large round of funding recorded in this cycle at $93 million dollars. Despite a decrease in funding since last quarter, the East Bay continues to be in the top ten VC funding markets in the United States.
This has translated into an increase of technology tenant demand for both the Oakland and East Bay market. In addition, big tech names like Google and Apple are starting to look in the market. Technology tenant requirements can be broken down to 215,000 square feet of IT services tenant demand and 315,000 square feet of software tenant demand. VC funding is expected to maintain its upward trajectory in the coming quarters.