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>