San Francisco, aka Camelot:
- 12.5 M square feet available (direct + sublease).
- 1,350,000 sf of available space came on the market during the past 30 days.
- 10.2% total inventory is available
- 5.6M sf under construction (will add 5% to total inventory).
- Market size 119M sf
- Total Net Absorption, Q1: 1.7M sf.
- Total leasing activity at 2.7M sf = lowest in 6 quarters.
- Subleasing activity at 450k sf = lowest in 14 quarters.
- Direct activity at 2.2M sf = lowest in 5 quarters.
- 2017 Year-End Net Absorption: <617,000 sf>
San Mateo County:
- 6.4 M square feet available (direct + sublease).
- 11.6% total available
- 3.5M sf under construction (will add 7% to total inventory).
- Market size 51.8M sf
- Total Net Absorption, Q1: 271,000 sf.
- Direct and sublease deal activity was lowest in 8 years.
- 2017 Year-End Net Absorption: 820,000 sf.
Alameda/Contra Costa Counties:
- 13 M square feet available (direct + sublease)
- 11.5% total available
- 1.8M sf under construction (will add <2% to total inventory).
- Market size 111M sf
- Total Net Absorption, Q1: 656,000 sf
- Direct and sublease deal activity was lowest in 8 years.
- 2017 Year-End Net Absorption: <1,058,000 sf>