AVEVA Exits San Leandro Tech Campus, Putting 110,000 SQFT Back on the Market
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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AVEVA, the industrial software company owned by France's Schneider Electric, is relocating to San Francisco and giving back most of its East Bay campus, though a source familiar with the move says the company will kee…
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