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Regional Summaries

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San Francisco, CA

Apartment
The 148,550-unit San Francisco/West Bay market-rate, investment grade apartment market tightened in 2017, but rising concessions limited the impact of rent gains, according to Reis. The fourth quarter 2017 vacancy rate is 4.5% for market-rate apartments, according to Reis, down 30 basis points over the year but up 10 from the prior quarter. The rate had been as low as 4.2% in the second quarter before edging up in the second half of the year. Rent gains picked up in 2017 but at a moderate pace. The average asking rent increased 2.9% to $3,027 per month, but the average effective rent rose just 2.0% to $2,894 per month. The fourth quarter gains were 0.8% and 0.9%, respectively. VIEW APARTMENT LISTINGS >
Industrial
The vacancy rate for the 31.8-million-square-foot West Bay (San Francisco Metropolitan Division) warehouse/distribution market was just 4.6% in the fourth quarter of 2017, down 150 basis points over the year and down 40 during the fourth quarter alone. The average asking rent in the San Francisco/West Bay warehouse/distribution market has reached the double digits at $10.11 psf, Reis reports. That is up 5.0% during 2017—following a 5.1% increase in 2016—and up 1.0% during the fourth quarter. The average effective rent is $9.52 psf, up 5.4% over the year following a 5.1% increase in 2016 and up 1.1% in the fourth quarter of 2017 alone. The 10.2-million-square-foot Flex/R&D vacancy rate is also just 4.6%, but it is down just 10 basis points over the year and up 30 during the fourth quarter. The average asking rent for San Francisco’s Flex/R&D space ended the fourth quarter of 2017 at $16.50 psf, up 5.0% over the year and up 0.5% during the quarter. The average effective rent is $15.40 psf, up 5.3% over twelve months and 0.7% over three months. VIEW INDUSTRIAL LISTINGS >
Office
The 95.5-million-square-foot West Bay/San Francisco general purpose, multi-tenant office market is facing a huge year for new supply following a modest year for net absorption, but most market watchers consider the situation to be healthy. Rent gains have slowed from the unsustainable levels of the recent past. Reis reports a 9.8% vacancy rate for the fourth quarter of 2017, up 30 basis points over the year but essentially unchanged for the quarter. In 2017, rents increased just 2.8% by both measures, ending the year at $59.89 psf asking and $50.33 psf effective. The fourth quarter increase was 1.5% by both measures. VIEW OFFICE LISTINGS >
Retail
Rents are already so high in the 9.8-million-square-foot San Francisco community-neighborhood shopping center market that they are not increasing much further. The vacancy rate in the West Bay community-neighborhood shopping center market was 3.1% in the fourth quarter of 2017, up 40 basis points over the year and up 20 basis points from a quarter earlier. San FranciscoÂ’s community-neighborhood shopping center asking rents are the second-highest among the top Reis submarkets nationwide, behind New YorkÂ’s Westchester County, at $36.67 psf. In San Francisco, both the average asking rent and the average effective rent increased just 0.9% during 2017, the latter to $33.31 psf. The fourth quarter gains were 0.6% and 0.5%, respectively. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

Coldwell Banker Commercial® Reports

Coldwell Banker Commercial® Blue Book

The Coldwell Banker Commercial® (CBC) organization is proud to present its’ 2017 Year-End Blue Book!

The Blue Book is a helpful market report with information brought to you by the true “on the ground” experts – the professionals of the Coldwell Banker Commercial organization from all over the world.

CBC-affiliated professionals represent one of the largest commercial real estate footprints in the U.S.  The Blue Book brings their local market feedback directly to you with up-to-date commercial real estate research covering 130+ Primary, Secondary, Tertiary & International markets. If you are thinking of investing in alternative markets, the Blue Book is your go-to resource for local commercial real estate market data!

CBC NRT NNN Investment Report

This is a market report that Coldwell Banker Commercial NRT prepared for the CBC Global Conference. This report provides the 2018 forecast of net-lease properties and details why NNN properties remain well-positioned for continued success and growth in the coming months.

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