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South Peninsula Market Reports

South Peninsula Office Market Report

Average NNN Asking Rent (Price/SF)       $5.47
Availability Rate (%)         5.9%
Net Absorption (SF)
 346,125

A strong fourth quarter closed out a healthy 2018 office market. With some uncertainty in the global economic markets and the volatile political landscape, the third quarter was relatively sluggish, causing some concern that the region was nearing the end of its growth cycle. However, the robust uptick in absorption during the fourth quarter quelled those concerns. The increase in fourth-quarter leasing activity accounted for almost 50% more gross absorption than the third quarter. Additionally, net absorption for the fourth quarter was three times that of the third quarter.

South Peninsula R&D Market Report

Average NNN Asking Rent (Price/SF)        $5.28
Availability Rate (%)          6.7%
Net Absorption (SF)  -520,724

Demand remains strong and poised for growth in 2019. The South Peninsula R&D market consists of approximately 30.2 million square feet in two counties from Redwood City to Mountain View. The market was soft to start 2018 but rebounded considerably in the last half of the year. Gross absorption for the fourth quarter spiked upward from that of one year ago and quadrupled that of the prior quarter. Total gross absorption for 2018 was 2,729,189 square feet, the highest it has been since 2011. Although net absorption decreased, the massive amount of gross absorption represents tremendous activity in the market, a very positive sign.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



South Peninsula Office Market Report
4Q18
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South Peninsula R&D Market Report
4Q18
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