JLL releases its Q2 2018 San Francisco Market Statistics! Twitch, Google and Pinterest Grow!

JLL releases its Q2 2018 San Francisco Market Statistics! Twitch, Google and Pinterest Grow!

Squaw Valley, Shirley Lake Trail + a Tram Ride Home!

The always intelligent and accurate research team at JLL released some great intel this week that details vacancy rates, asking prices, absorption numbers, plus the big movers of the past 3 months. We lean on our team members for this type of information, which we then pass along to our clients to make sure they are making the smartest possible moves across our great city. Please reach out to me directly if you need any help or advice. Thanks!

Market fundamentals tighten across the board amid surging demand

Three Takeaways…

  1. Leasing activity is strong, with over 2.3 million square feet in transactions greater than 20,000 square feet
  2. Healthy leasing activity in previous quarters drove significant occupancy gains, compressing overall vacancy
  3. With supply dwindling, the market is seeing notable rental rate increases, up 2.2 percent quarter-over-quarter

Total net absorption (sf): 1,444,010

Direct vacancy (%): 6.7%

Total vacancy (%): 7.7%

Average asking rent ($ psf): $76.28

Rent growth (last qtr.): 2.2%

Rent growth (year ago qtr.): 2.8%

Rent growth (Since Q1 2010): 127.2%

Major contributors to Q2 2018 positive absorption:

  • Twitch at 350 Bush (236,942 square feet)
  • Google at 121 Spear (166,460 square feet)
  • Pinterest at 501–505 Brannan (153,117 square feet)

Major contributors to Q2 2018 negative absorption:

  • California Pacific Medical Center at 633 Folsom (-176,596 square feet)
  • Weldon Owen at 1005–1045 Sansome (-30,926 square feet)
  • Citadel at 1 Market Plz (-17,860 square feet)

If it would be helpful to you to have PDF copies of all of our reports, simply reach out and say hello. Thanks!

Tom Poser, EVP at JLL

415–509–0596/ tom.poser (@) am.jll.com


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