San Francisco, aka Camelot:

• 11.8 M square feet available (direct + sublease).
• 900,000 sf of available space came on the market during the past 30 days.
• 9.8% total inventory is available
• 5.2M sf under construction (will add 4% to total inventory).
• Market size 119M sf
• Total Net Absorption, Q2: 1.7M sf.
• Total leasing activity at 3.7M sf = up 5% from last quarter
  • Subleasing activity at 434k sf = lowest in 4 years
  • Q2 Sublease net absorption FLAT

San Mateo County:

• 6.5 M square feet available (direct + sublease).
• 11.8% total available
• 3.4M sf under construction (will add 6.5% to total inventory).
• Market size 52M sf
• Total Net Absorption, Q2: 171,000 sf.
• Total leasing activity at 800k sf = 3rd lowest in 9 years
  • Sublease deal activity lowest in 4.5 years
  • Q2 Sublease net absorption <81,588 sf> 

Alameda/Contra Costa Counties:

• 13 M square feet available (direct + sublease)
• 11.5% total available
• 2M sf under construction (will add <2% to total inventory).
• Market size 111M sf
• Total Net Absorption, Q2: 64,000 sf
• Total leasing activity at 1.3M sf = 2nd lowest in 7 years
  • Sublease deal activity at 53k = lowest in 4.5 years.
  • Q2 Sublease net absorption <54,227 sf>