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North Peninsula Market Reports

North Peninsula Office Market

Average FS Asking Rent (Price/SF)            $4.91
Availability Rate(%)         10.72%
Net Absorption (SF)      159,786

The San Mateo County office market has recorded its third consecutive quarter of positive net absorption and fourth consecutive quarter of overall rate rental growth. Overall rates are up $0.10/SF from $4.81/SF in the previous quarter, while the overall vacancy for the county was recorded at 10.7%, down from 11.2% in the previous quarter. The county's current sublease vacancy now stands at 2.4%, down from 3.1% in the prior quarter and down slightly from 2.5% a year ago.

  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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