99,000 SQFT Lease at 1960 Mandela Parkway, Likely Project Prometheus, Tops Oakland’s Q3 Industrial Deals
Why this matters
Industrial has moved into a normalization phase after the 2020-2023 frenzy. Vacancies are up modestly, sublease space remains a watch item in the big-box logistics segment, and rent growth has shifted from double-digit to mid-single-digit. The long-term tailwinds — nearshoring, e-commerce penetration, infill scarcity — remain intact. San Francisco continues to clear office at the deepest discounts to 2019 basis seen in the cycle, while multifamily fundamentals have stabilized and life sciences in the Peninsula remains active. Institutional capital is calibrating between core income and value-add basis plays as the cycle matures.
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On the RET wire
- The 119th San Francisco story tracked on the wire in November 2026. All San Francisco coverage →
Computed from Real Estate Trail’s own tracked coverage
CBRE's third-quarter data puts a 99,000-square-foot lease at 1960 Mandela Parkway on the books as the biggest industrial deal in Oakland this summer, a commitment The Registry estimates belongs to Jeff Bezos-backed Pr…
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