San Francisco Peninsula office market reports

Q4 2023

The San Francisco Peninsula office market remains favorable for tenants, particularly with increasing vacancies. Anticipated softening of market conditions is expected due to upcoming deliveries and the continued decrease of job openings. With the largest negative net absorption in recent quarters, asking rents are also expected to drop.


Remote job postings quarter-over-quarter

Remote job postings are up 6.4% quarter-over-quarter, but sit well below San Francisco’s 23.7% percentage share of remote postings.


Trophy/Class A office vacancy

Trophy/Class A vacancy has continued to rise for the fourth straight quarter and now sits at 25.9%.


Overall direct asking rents

Asking rents held steady this quarter, but are up 14.5% since the recent low of 2022.


Your source for the latest San Francisco Peninsula office market reports

Get in-depth office market reports and insights from commercial real estate experts in the Greater San Francisco Peninsula area. Avison Young advisors look at San Mateo commercial real estate activities and the latest San Mateo statistics to provide you expert market research on San Francisco Peninsula's office properties.

Explore different topics like the latest office market pricing trends and analysis of San Francisco Peninsula's current office real estate market conditions. Gain a better understanding of San Francisco Peninsula’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in San Francisco Peninsula's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in San Francisco Peninsula.

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