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>