Avison Young in San Mateo
Flanked directly by San Francisco to the north and Silicon Valley to the south, San Mateo is at the center of innovation in the Bay Area. Both Pier 1 Imports and Electronic Arts started in San Mateo and the county is home to several Fortune 500 companies, such as Oracle, Visa, Facebook, Gilead Sciences and Franklin Funds. San Mateo businesses can tap into a pool of talent fed by UC Berkeley, Stanford, UC San Francisco, Santa Clara and San Jose State University. The city also serves as a transportation nexus, surrounded by three major highways, three airports and the commuter rail, Caltrain.
San Mateo has a population of approximately 100,000 and is one of 20 incorporated cities that make up San Mateo County – which totals over 800,000 people. With 500,000 workers primarily in knowledge-based industries, San Mateo County has the second-lowest unemployment rate in California.
The San Mateo commercial real estate market is highly active due to tech-related firms expanding, as well as new and established businesses being infused with billions of venture capital funding. Unlike size-constrained San Francisco, San Mateo has a mix of large suburban office parks and downtown quality, low rise buildings. San Mateo’s geography, with access to land and logistical proximity to various forms of transportation, also allows for a thriving industrial market. The city and county’s location, size and available product make San Mateo a wonderfully successful and expanding office market.
With top notch universities flanking its borders, the well-educated, well-trained minds in and around San Mateo County -- factored with proximity to Silicon Valley -- help drive up domestic and international investment interests. With employers flocking to the Bay Area in order to tap into this rich talent pool, there’s no shortage of demand for quality office space. Steady demand and rapidly increasing rents provide stakeholders with substantial reasons to invest in this growing marketplace.