Your Commercial Real Estate Source in the San Francisco Bay Area
The San Mateo County office market ended the second quarter of the year with 464,077 square feet of net absorption, marking the fifth consecutive quarter of positive occupancy growth. While the larger technology companies are leading the surge in demand, activity among small to mid-size companies continues to rise as overall economic conditions improve. Rental rates on the Peninsula once again displayed signs of steady elevation
rising to an overall average rate of $2.68/square foot, full service.
Venture Capital funding continues to increase quarter-over-quarter in the area with the software, energy, and biotechnology sectors receiving the most money. While the technology sector is expected to continue to increase demand and economic activity in the upcoming quarters, overall leasing activity is expected to steadily increase from a broad range of tenants.
Read the entire report here: office-market-research-peninsula-2011-Q2