Your Commercial Real Estate Source in the San Francisco Bay Area
Here’s an excerpt from the report:
The San Francisco industrial market contracted modestly in the second quarter of 2016, with 141,800 square feet of negative net absorption raising the vacancy rate to 3.7%. Asking rental rates inched up to an average of $15.67 per square foot, reaching price tags unseen since before the recession. The region’s largest industrial leases continue to be consummated in San Mateo County and in the southern reaches of the East Bay, where available space and expansive facilities are in much greater supply, as tenants trade the appeal of a central location for adequate square footage. Leasing activity in San Francisco dipped to 14 deals covering 113,961 square feet this quarter, reflecting the lack of functionally viable space on the market. Earlier this year, the San Francisco Planning Department began to engage in stricter enforcement of its Production, Distribution, and Repair (PDR) zoning, as part of a bid to reinvigorate the manufacturing sector of the city’s economy.
Read entire report here.