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Sonoma Office Market Report

Average Asking Rent (Price/SF)      $1.85
Availability Rate (%)      15.0%
Net Absorption (SF)  -24,078

In mid-May, the 38,410 square-foot office building at 1425 North McDowell Boulevard in Petaluma sold for $8.0 million, or $208/SF. The building was 97.3% leased at the time of sale and was purchased by Novato-based Professional Financial Investors, Inc., which has purchased six office, flex and multi-family properties in Sonoma County for over $32.0 million since the third quarter of 2014. The seller of 1425 North McDowell Boulevard was David A. Brown of San Rafael, who had purchased the building for $70/SF in the second quarter of 2011, when it was 64.4% leased.

Sonoma Office Market Report
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