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South Peninsula Market Reports

South Peninsula Office Market Report

Average NNN Asking Rent (Price/SF)       $5.92
Availability Rate (%)        7.0%
Net Absorption (SF)

There is still some uncertainty in the global economic markets and an ever-changing political landscape continues as the 2020 elections draw nearer. A late-cycle environment has some concerned a downturn is coming; however, fundamentals remain strong, which helps to alleviate worry in the market. Leasing activity, funding (both private equity and venture capital) and a very strong IPO outlook for the remainder of 2019 are the underpinnings of what will likely be a strong finish to the year.

South Peninsula R&D Market Report

Average NNN Asking Rent (Price/SF)        $5.49
Availability Rate (%)          7.9%
Net Absorption (SF)  -132,633

Demand remains strong in the South Peninsula R&D market, as transaction volume and absorption continued to rebound steadily from their sluggish start to 2018. However, the market was also off to a slow start for 2019, as gross absorption plunged almost 1.0 million square feet in the first quarter. This is not necessarily a negative indicator: There are significant transactions in motion, and there is deep demand in the market. Unfortunately, there is a lack of quality product. The 519,538-square-foot HPE Campus at 3000 Hanover Street in the Stanford Research Park is still available, but the lack of activity is the result of a high triple net rate that is generally atypical of R&D product. It is likely that most R&D tenants have been priced out of this submarket.










































































































































































































































































































































































































































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