San Mateo-Peninsula industrial real estate market reports
Q4 2022: The San Francisco Peninsula continued its strong momentum throughout 2022, ending the year with more than 1.3 million square feet of positive net absorption. Overall industrial fundamentals have remained robust post-pandemic, with new developments for flex space seeing interest.
YTD Net Absorption
San Francisco Peninsula finished 2022 with more than 1.3 msf of positive net absorption, almost double than the previous year.
Total Available Space
The year-over-year total available space shrank by more than 15% a total decrease by almost one million square feet.
Industrial NNN Asking Rents
Year-over-year industrial triple net direct asking rents have seen a healthy increase of more than 15% to $2.07.
R&D/flex NNN Asking Rents
Year-over-year industrial triple net direct asking rents have seen a significant dip of more than 20.1% to $3.23.
While more than 4.3 million square feet of new construction remains in the development pipeline much of the development is slated for life science users.
Investment Sale PSF
A steady stream of building and portfolio acquisitions saw the price per square foot rise by more than 17.0% despite a 44.7% decrease in sales volume.
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