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Hurray, the long awaited Q3 Industrial Report! This report is for Industrial buildings located on the North Peninsula, including cities such as South San Francisco, Brisbane, Burlingame, San Mateo, Belmont, and San Carlos.
We recently touched on the Industrial Market from the 30,000 foot national view. Here we present stats and figures that hit closer to home. So without further adieu:
“The San Mateo County industrial market concluded the third quarter of 2011 with a moderate increase of absorption at 134,117 square feet. Net absorption rose by a total of 142,564 square feet, a sign that market stability and industrial lease interest on the Peninsula are evident. After negative absorption in 2009 and 2010, the second half of 2011 shows signs of modest regional market stability. The third quarter finished with an availability rate of 11.8%, a slight increase from the previous quarter at 11%. It is expected that by year-end the marketplace will see users slowly move back into the area.”
Read the entire report industrial-market-research-peninsula-2011-3q.
The wheels haven’t fallen off of Industrial Real Estate, despite the economy’s and government’s best efforts. There are certainly winners and losers in this, but overall Industrial has held it’s advantage and kept steady over the past 6 quarters; not a small feat considering the amount of shuffling amongst businesses and landlords. You can read our previous national report on the subject to understand why Industrial Real Estate is a good bet. Gross absorption continues to make positive gains, rents are maintaining pricing, and the balance between supply and demand seem to be keeping Industrial Real Estate chugging along.
We’ll be posting our Peninsula Office Report on Monday, and it won’t be spooky either!