San Mateo-Peninsula industrial real estate market reports
Q1 2022: The recovery in the Peninsula continues as vacancy continues to drop and rents continue to increase.
The San Francisco Peninsula industrial sector is uniquely positioned to maintain its strength given the high population density and strong household incomes of the surrounding markets that are enticing to the growing needs of the e-commerce industry.
While marginal compared to previous quarters, Q1 2022 saw positive net absorption for the 3rd quarter out of the last 4.
While existing inventory stayed stagnant from Q4 2021, there are 4.5m sf of construction in the pipeline.
After reaching a peak in Q1 2021, total vacancy has continued a downward trend quarter to quarter.
While there was a marginal increase in available sublease space for the first time since 2020, total available space continues to decrease consistently.
Direct asking rates
As vacancy rates have declined, Peninsula base rents have rebounded significantly.
While per sf prices have continued to rise, sales volume in Q1 2022 decreased noticeably.
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