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Marin County Market Reports

Marin County Market Reports

Average Asking Rent (Price/SF)          $3.10
Availability Rate (%)       20.51%
Net Absorption (SF)       -23,734

Word began to spread during the third quarter of 2017 that the 55,125-square-foot, five-story office building at 899 Northgate Drive in North San Rafael was being brought to market. The current owner, San Rafael-based Seagate Properties, Inc., had purchased the building for $13.5 million, or $245/SF, in the third quarter of 2015, when it was 61.2% leased. Since then, Seagate Properties has seen 23,370 square feet of new leasing by nine different tenants, rendering the building 91.8% leased by the end of the third quarter. The property is being offered at an undisclosed price.

Marin County Office Market Report
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