Rockridge continues to stand out as one of the Bay Area’s strongest neighborhood retail districts, with 97.60 percent of its retail space occupied, compared with 93.86 percent Bay Area-wide, according to the latest quarterly report from John Cumbelich & Associates.
During the last quarter, the retail occupancy rate in Rockridge increased 1.06 percentage points—reinforcing the strength and resilience of the College Avenue commercial corridor.
According to the report, “Oakland’s premier retail districts, Rockridge, Grand Lake and Montclair Village, have a comparable inventory of retail space, 830,000 square feet, to Walnut Creek’s regional mall area. Yet these vibrant streets outperform Walnut Creek – with occupancy levels that are unsurpassed by any other Bay Area submarket. A powerful mixture of residential density, incomes, and growing job creation have pushed Oakland’s retail inventory to record occupancy and rent levels. ”
The report does not explain the exceptional performance of Rockridge retail, however, one contributing factor is the highly active and involved local community, which for decades has organized to preserve Rockridge’s character and walkability, and to ensure locally-owned retail shops remain central to the retail corridor. This sustained community effort is reflected in the distinctive character of the commercial district—and in its overall continued success.
Not to be overlooked is the ongoing, reliable support from the Rockridge District Association, which was voted in as our Business Improvement District in 2000. The BID works to: plan and host street events (Halloween Parade, Rock-N-Stroll), ensure the streets stay clean, address vagrancy and crime issues quickly, and beautify the corridor so it remains welcoming and inviting.
Amazingly, due to how assessment funding is structured, they do all this with a much smaller budget and staff than neighboring districts.
“People may assume that Rockridge’s BID must have a lot of money because we are a more affluent area of Oakland, but in reality we are one of the least funded,” noted RDA’s Executive Director Devan Gregori
For now, retail rents in Rockridge remain steady, ranging from approximately $36 to $65 per square foot. With nearly all commercial space occupied, the retail corridor’s ongoing vitality reflects decades of community investment.
John Cumbelich & Associates provides commercial real estate services to retailers, property owners and developers throughout the Northern California marketplace.
