Peninsula Office Leasing Activity Reflects Market Conditions

A new Kidder Mathews’ report indicates that San Mateo County office vacancy is on the rise and leasing rates are declining, as economic uncertainty and pandemic-driven labor changes are slowing activity. In the 2nd quarter, Peninsula office vacancy rose to 12.4%, a 30 basis point annual increase while direct asking lease rates dropped to $5.92 per square foot, down from $6.12 in Q1.

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