San Mateo-Peninsula industrial real estate market reports
Q4 2023
San Francisco Peninsula’s industrial market has started to cool off, with leasing activity slowing and tenants preferring smaller spaces. Similarly, the flex market faces ongoing challenges, with limited signs of improvement attributed to a lack of demand.
Total available industrial space
Total available industrial space now sits at 1.51 msf, translating to a 5.4% availability rate.
Industrial leasing activity
Industrial leasing activity has started to cool off, with a 26.6% decrease from the previous quarter.
Industrial asking rents
Industrial asking rents saw a 5.1% decline, and currently stand at $1.94 psf/NNN.
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