4Q 2017 Office Market Performance *

San Francisco, aka Camelot:

  • 12.5 M square feet available (direct + sublease).
  • 800,000 sf of available space came on the market during the past 30 days.
  • 10.1% total inventory is available
  • 5.2M sf under construction (will add 5% to total inventory).
  • Market size 116M sf
  • Total Net Absorption, Q4: 155,000

Total DIRECT Net Absorption: 207,000 sf (1st quarter of positive growth in the past 6 quarters)

  • 2017 Year-End Net Absorption: <617,000 sf>

San Mateo County:

  • 6.1 M square feet available (direct + sublease).
  • 11.2% total available
  • 3.5M sf under construction (will add 7% to total inventory).
  • Market size 51M sf
  • Total Net Absorption, Q4: 236,000 sf.

Total DIRECT Net Absorption: 187,000 sf.

  • 2017 Year-End Net Absorption: 820,000 sf

Alameda/Contra Costa Counties:

  • 12.6 M square feet available (direct + sublease)
  • 11% total available
  • 1.8M sf under construction (will add <2% to total inventory).
  • Market size 111M sf
  • Total Net Absorption, Q4: <307,000 sf> (3rd consecutive quarter of major negative market performance)

Total DIRECT Net Absorption: <243,000 sf>

  • 2017 Year-End Net Absorption: <1,058,000 sf>

*1/18/18

 


Is your lease is up within the next three years? We should talk now.

We go the extra mile for our clients…big and small.

Sign up for Quarterly Market Insights