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Northern California Market Reports

Northern California Office Market Report 

Average Asking Rent (Price/SF) $3.98
Availability Rate (%) 10.4%
Net Absorption (SF) 4,858,339

For the fifth consecutive quarter, the Northern California office market posted significant positive net absorption, closing out 2018 with a YTD net absorption at a record 10.3 million square feet. Strong leasing activity dropped the availability rate down 0.9 percentage points from the third quarter to 10.4%. The total average asking rent increased to $3.98/SF. In the largest direct lease deal of the quarter, Facebook leased the entirety of the Burlingame Point development, which is currently under construction and slated for completion in the second half of 2019.

Bay Area Life Science Market Report 

 Availability Rate (%)
        4.9%
Net Absorption (SF)   654,235

The fourth quarter of 2018 proved to be the strongest of the year for the San Francisco Bay Area life science market, finishing with 1.1 million square feet of positive net absorption. The market currently consists of 1.2 million square feet of available life science space and closed the fourth quarter with a 4.9% vacancy, down from 7.5% in the previous quarter but up from 4.2% a year ago. Tenant demand increased 9.1% over the fourth quarter to approximately 3.3 million square feet, indicating that leasing activity will likely remain strong into next year.



Northern CA Office Market Report
4Q18
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Bay Area Life Science Market Report
4Q18
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