Monthly snapshot shows flat Peninsula market

| September 7, 2012 | 0 Comments

Our monthly look at Peninsula submarkets is now available.  For the third consecutive month, the  San Mateo County (the Peninsula minus Mtn View and Palo Alto) vacancy rate has ticked up modestly– a stark contrast to a closer look at some of core submarkets.   Current snapshots for downtown  Palo AltoRedwood City and San Mateo show continued rent growth and exceptionally low vacancies.

There is cause to think that the dearth of large blocks of space is, to some degree, suppressing market activity, and I’ve made this case more than once.   Whether that accounts for some of the market slowdown, or if much of the headiness of 2011 was the result of just a few users, I don’t see much reason to expect the current steady-state to change appreciably in the near term.


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