Marin County Market Reports
|Direct Asking Rent (Price/SF)|| $3.64|
|Availability Rate (%)|| 16.5%|
|Net Absorption (SF)|| -212,574|
Uncertainty about future market conditions and the post-COVID-19 office environment has caused many tenants to put off making decisions regarding office space. Massive government support in the form of PPP loans has kept the doors to many businesses open. Leasing and investment sales activity are at a fraction of normal, both on a quarterly and year-to-date basis. Asking rents remain comparatively stable but landlords are offering increased concessions to get the attention of the few tenants in the market.
Some tenants have found that employees have been productive while telecommuting but generally see the need to maintain an office to get employees together. Other, mainly professional services firms are finding that younger employees are missing the opportunities to learn at the side of a mentor. San Francisco brokers have been looking at Marin County availability with increased frequency, reflecting a trend of San Francisco tenants looking at suburban markets to establish satellite offices.
Download Marin County Office Market Report 3Q20