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South Peninsula Market Reports

South Peninsula Office Market Report

Average NNN Asking Rent (Price/SF)       $5.92
Availability Rate (%)        7.0%
Net Absorption (SF)
 -267,547

There is still some uncertainty in the global economic markets and an ever-changing political landscape continues as the 2020 elections draw nearer. A late-cycle environment has some concerned a downturn is coming; however, fundamentals remain strong, which helps to alleviate worry in the market. Leasing activity, funding (both private equity and venture capital) and a very strong IPO outlook for the remainder of 2019 are the underpinnings of what will likely be a strong finish to the year.

South Peninsula R&D Market Report

Average NNN Asking Rent (Price/SF)        $5.49
Availability Rate (%)          8.1%
Net Absorption (SF)  -191,967

After rebounding steadily through the end of 2018, transaction volume and absorption have so far proved to be just as slow to start 2019 as they were at the beginning of last year. Nevertheless, the market is expected to rebound again into a strong finish. Absorption was higher by approximately 175,000 square feet in the second quarter but was still down by approximately 700,000 square feet from the strong fourth quarter of 2018. However there are significant transactions in motion, recent funding of some companies and a strong IPO outlook may increase the likelihood that demand will return to the area. The 519,538-square-foot former HPE Campus at 3000 Hanover Street in the Stanford Research Park remains available. Record high R&D rental rates have likely priced some tenants out of this submarket.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



South Peninsula Office Market Report
2Q19
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South Peninsula R&D Market Report
2Q19
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