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Peninsula Vacancies Still Under 1%, Rents Still Rising

SAN FRANCISCO-Direct vacancy rates on the Peninsula range from 0.1% to 0.9%, but quite a bit of sublease space has been coming on the market as dot-coms bring in the walls to squeeze out profits before their venture capital runs out, according to a third quarter report by CB Richard Ellis.

By Raymond Aguilera | Updated on October 27, 2000

SAN FRANCISCO-The San Francisco Peninsula continued to thrive in the Third Quarter, according to a recent report by CB Richard Ellis. Vacancy rates rose slightly to a still-slim 0.9%, up from 0.3% over the previous six months. In total, the Peninsula market represents a total of more than 30 million sf of office space. Another 560,000 sf is expected to come online by the end of the First Quarter 2001.

The northern end of the peninsula seems to be enjoying the lion’s share of the spoils in the Bay Area space crunch. Encompassing the cities of Burlingame, Millbrae, San Bruno, Brisbane, South San Francisco and Daly City, direct vacancy rates finished the quarter at an amazing 0.5%. San Bruno, Brisbane, Burlingame and Millbrae all came in with vacancies at or under 0.1%.

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