First look at 3Q stats shows vacancy bump

| October 6, 2012 | 0 Comments

I got a first look at quarterly stats for the SF Peninsula today– I wasn’t surprised to see another modest increase in the local vacancy rate.   The SF Peninsula ended 3Q 2012 with a vacancy rate of 12.05%, up a little over half a point.  Just looking at San Mateo County (without the rock-solid Palo Alto/Mtn View submarkets) shows a more pronounced 130 basis point gain to 13.69%.  Not terribly surprising– or, I think, significant given a few substantial new blocks of space in a small market.   I find flattening rents and reduced Gross Absorption a bit more significant, and indicative of a flattening market.

Our Quarterly Report will be out shortly, but you can preview San Mateo County stats and updated snapshots for some key submarkets HERE

My thoughts on this modest uptick in vacancy appear in the Silicon Valley Business Journal BizBlog  (note that the numbers quoted in the post are for San Mateo County only and are therefore slightly off the Peninsula figure)

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