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North Peninsula Market Reports

North Peninsula Office Market

Average FS Asking Rent (Price/SF)            $4.81
Availability Rate(%)         11.24%
Net Absorption (SF)      309,280

The average Class A asking rent was recorded at $5.07/SF this quarter, up 1.2% from the previous quarter and up 5.8% from the beginning of the year. The quarter's average Class B and Class C asking rents were recorded at $4.06/SF and $3.72/SF, respectively. Deal velocity remains steady, as gross absorption eclipsed 1.2 million square feet for a second consecutive quarter.

  North Peninsula Industrial Market

Average NNN Asking Rent (Price/SF)      $2.68
Availability Rate (%)      2.70%
Net Absorption (SF)  -131,300

The average R&D asking rate for the county was recorded at $4.55/SF NNN, while the average industrial asking rate was recorded at $1.51/SF NNN. This marks the seventh consecutive quarter in which the average rate increased for both markets. Millbrae joins the list of cities with zero available industrial product. Burlingame joints the list of cities with zero R&D product.

North Peninsula Office Market Report
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North Peninsula Industrial Market Report
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