San Mateo-Peninsula industrial real estate market reports

Q2 2023: The San Francisco Peninsula industrial market continues to report on strong fundamentals due to high tenant demand and low availability rates. However, the flex market has struggled with tech-focused tenants scaling back amid turbulent market conditions and rising asking rents.


Total available industrial space down since last quarter

The industrial market continues to demonstrate strong fundamentals, with the availability rate shrinking due to strong leasing activity over the past few quarters.


Industrial direct asking rents see stability

The lack of supply in the market has driven up industrial asking rents post-Covid, but have since stabilized.


Average leasing activity declines post-COVID

The combined leasing activity between flex and industrial has seen a 17.3% decline from the 5-year pre-COVID average.


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