Marin County Market Reports
|Direct Asking Rent (Price/SF)|| $3.57|
|Availability Rate (%)|| 16.3%|
|Net Absorption (SF)|| -121,398|
Having experienced a full quarter of reduced business activity resulting from COVID-19-related restrictions, the Marin County office market is showing itself to be relatively resilient. Government assistance, primarily in the form of PPP loans, has provided some businesses with a lifeline to continue operations.
Quarterly negative net absorption represents less than 2% of tracked inventory and includes new sublease offerings representing less than half of 1%. The majority of these subleases were planned in advance of the pandemic and are not COVID-19 related. Asking rents have generally been unaffected to this point but landlords have been making concessions to both new and existing tenants. Despite the challenges involved, touring activity increased over the first quarter of 2020. There are currently at least 250,000 square feet of current tenant requirements, including over 70,000 square feet of medical-related requirements and over 55,000 square feet from the finance/insurance/real estate and legal sectors.
Download Marin County Office Market Report 2Q20