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Sonoma Office Market Report

Average Asking Rent (Price/SF)       $1.90
Availability Rate (%)     11.28%
Net Absorption (SF)    -30,915

The first quarter saw several new leases larger than 5,000 square feet across Sonoma County. Notable transactions include Kaiser Permanente leasing 18,000 square feet of first-floor office space in South McDowell Landing, located at 1800 South McDowell Boulevard in Petaluma. Kaiser is reportedly planning this space to serve as a behavioral health center. Less than two years ago, in the third quarter of 2016, Kaiser leased 34,558 square feet on the second floor of 2235 Mercury Way in the Corporate Center submarket of Santa Rosa. This location now houses mental health and wellness services.

Sonoma Office Market Report
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